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Gold surges violently, bulls eye 4600 level
Gold tested intraday low of 4456 and rebounded steadily, surging unilaterally to 4602, gaining nearly 80 points in a single day with strong bullish breakout. Evening saw sharp pullback of 60 dollars
Following Fed's March rate decision, rate cut expectations fluctuate repeatedly, rising inflation expectations ease high interest rate concerns, and weakening dollar provides support for gold prices.
Middle East geopolitical risks continue to escalate, risk-off demand heats up, combined with unchanged global central bank gold-buying logic, both physical and safe-haven buying propel gold prices higher.
On the 1-hour timeframe, gold price breaks out of consolidation range, stands firm on Bollinger Band midline, moving averages show bullish alignment, short-term bullish trend is clear. KDJ neutral, bulls still have upside room.
Trading idea: Dip to 4520-4540 zone for long positions, targets at 4580, 4600.
Personal view, for reference only! #Gate正式接入Polymarket