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April 9, 2026, Spot Gold Midday Analysis
The morning gold prices remained weak and volatile. Although there was a slight rebound to recover some losses, the upward momentum was clearly insufficient. After reaching 4730, prices faced resistance and pulled back again.
Currently, gold is trading within a narrow range around 4710. The focus at midday is on whether the 4700 support level holds. The strong support is at 4670.
In the short term, bulls and bears are repeatedly battling between 4730 and 4700. If the 4700 level is broken, it is likely to continue downward toward the strong support at 4670. Overall, the market is heavily influenced by fluctuations in the US dollar index.
In the absence of major news triggers, the strategy of placing long positions based on support at 4700 and 4670 remains valid, with targets at 4730 and 4750, and a stop-loss at 4660.
The above is only personal advice for reference and does not constitute investment recommendations. Please follow Cheng Jingsheng's layout for specific trading strategies! #XAU $XAU