Last night, gold prices surged wildly! The behind-the-scenes drivers are actually these points

Analysis on January 23, 2026: Gold prices hit a new all-time high again, market sentiment is exuberant, but volatility at high levels is also increasing. Understanding the current rhythm is key to seizing opportunities in changing situations.

The reason why spot gold prices rose so quickly and sharply last night is essentially a triple resonance of risk aversion sentiment explosion + weakening US dollar + capital flocking to chase long positions, combined with technical breakout acceleration effects, ultimately pushing gold prices rapidly to a historical high.

Gold prices started a smooth one-way upward trend from a low point, continuously breaking through key resistance levels. Currently, it has reached a new all-time high of $4940.75, showing strong bullish momentum. However, after reaching the new high, the K-line showed a slight pullback with a bearish candle, which is a short-term profit-taking signal for bulls. But the overall trend strength remains upward, with moving averages still in a bullish alignment, indicating the main direction is still upward. The current price is approaching historical extremes, and indicators like RSI are likely in overbought territory, so caution is needed for a quick correction risk.

In terms of operation, it is recommended to buy on dips, strictly control positions, set stop-losses properly, avoid blindly chasing highs. It is suggested to wait for a pullback to around 4910-4900, then buy in batches, with targets near 4960--4980--5000.

The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng Shi Pan's layout for specifics.