March 4, 2026 Spot Gold Morning Analysis

Yesterday, spot gold showed extreme volatility. It surged to around 5380 in the early session but faced resistance, then plunged sharply in the afternoon. The entire day saw a rise followed by a fall, with a one-sided weakening trend and significant fluctuations.

The news factors are as follows: First, risk aversion in the Middle East cooled down, leading to capital withdrawal from gold; second, hawkish comments from the Federal Reserve strengthened the dollar, putting pressure on gold prices; third, after a strong rally earlier, institutions took profits, and multiple negative factors combined to push prices down rapidly.

Because the early surge failed to stabilize, 5380 became a strong intraday resistance. In the afternoon, breaking below key support triggered a large number of stop-loss orders, accelerating the decline. The daily chart closed with a large bearish candle, indicating a pause in the short-term bullish trend and entering a correction phase. The hourly chart continues downward, with moving averages in a bearish alignment, making rebounds difficult.

This morning, gold prices are consolidating at lower levels with obvious short-term weakness. In terms of trading, avoid blindly bottom-fishing and mainly follow the trend for shorting on rallies. The resistance levels are first seen at 5150-5200, while the key support is at the 5000 integer level. If broken, further declines to 4950-4900 are possible. If the 5000 level holds, a small rebound for correction is likely.

Overall, yesterday's decline was driven by profit-taking at high levels, negative news, and technical breakdowns—an overall resonance of multiple bearish factors. Today, expect consolidation at lower levels, focus on the 5000 level's hold or break, and wait for a rebound to resistance levels before acting. Strictly set stop-losses, avoid chasing orders, and do not hold through heavy losses.

The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng's layout for specific strategies!!$XAU ‌#XAU ‌