Gold surges sharply, bulls aiming for the 4600 level

Gold dipped to 4456 intraday, stabilized, and rebounded, soaring to 4602 in a one-sided rally, with a daily increase of nearly 80 points, breaking out strongly on the bullish side. In the evening, it experienced a rapid short-term decline of $60.

After the Fed's March interest rate decision, expectations for rate cuts have been repeatedly adjusted. Rising inflation expectations have eased concerns about high interest rates, and a weaker dollar has supported gold prices.

Geopolitical risks in the Middle East continue to escalate, increasing safe-haven demand. Coupled with the unchanged logic of global central banks purchasing gold, physical demand and safe-haven buying together drive gold prices higher.

From a 1-hour chart perspective, gold has broken through the consolidation range, stabilized above the Bollinger middle band, with bullish moving averages aligned, indicating a clear short-term bullish trend. The KDJ indicator is neutral, and bulls still have room to move higher.

Trading strategy: Buy on dips around 4520-4540, with targets at 4580 and 4600.

Personal opinion for reference only! #Gate正式接入Polymarket