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Gold Digger Old Cat

Noon Gold Strategy: Maintain the Shorting Mindset, Wait for Breakout Opportunities

The market will never stop because of your hesitation. True trading is about finding your certainty amid uncertainty.

This morning, after the opening, gold continued yesterday’s weakness, with the price dropping from around 5062 to a low of 4988.99, then rebounding slightly and currently oscillating around 5012. The sharp decline at the open directly broke through a key support level, making the bulls’ rebound look weak, and the overall sentiment is bearish.

On the news front, the US non-farm payroll data performed strongly, reinforcing market expectations that the Federal Reserve will keep interest rates high. The US dollar index and Treasury yields rose simultaneously, directly suppressing safe-haven buying in gold. Meanwhile, concerns over geopolitical conflicts eased somewhat, further weakening gold’s upward momentum.

From the 4-hour technical perspective, after rebounding to around 5080, the price faced resistance and fell back, forming a clear double-top pattern. The moving averages are also beginning to turn downward, indicating a gradually clearer bearish trend. The key support zone is between 4980 and 4950. If this is effectively broken, the bearish space will open further; the strong resistance zone is between 5050 and 5080. A rebound that fails to break this zone confirms the continued bearish outlook.

For today’s trading, continue to adhere to the shorting strategy. If the price rebounds to the 5050-5060 range, consider entering short positions in batches, with targets first at 4980-4950, and if broken, down to below 4900. If the price unexpectedly breaks through 5080 strongly, consider adjusting the strategy.

Disclaimer: The above analysis is for personal reference only and does not constitute any investment advice. The market is risky; trade cautiously. Profit and loss are at your own risk.