Wednesday Gold Trading Strategy

The March market cycle has come to an end, and April officially marks a new beginning. Looking back at March in the international markets, overall volatility and uncertainty remained high: conflicts in the Middle East continued to escalate, the Russia-Ukraine war entered a prolonged stalemate, and multiple geopolitical risks continued to weigh on the global economic recovery. Especially as Iran tightened control over the Strait of Hormuz, directly pushing up international energy prices, this heightened global inflation expectations and significantly cooled the Fed's rate cut expectations for the year. The US dollar index strengthened, exerting clear pressure on gold. Therefore, even though gold has safe-haven attributes, it still experienced a noticeable correction this month.

As March draws to a close and the US signals a positive easing stance, market expectations for peace have quickly rebounded; combined with recent weak US economic data, the US dollar index retreated from its highs. After intraday gains and subsequent declines, bulls regained momentum in the evening, successfully breaking above the 4600 level and pushing toward the 4700 mark. In the early session, prices continued upward to 4723 before a slight correction.

For trading, it is recommended to rely on the 4660–4670 support zone for initial long positions, with a focus on resistance around 4740. #四月行情预测