Gold Market Daily: April 7th Gold Price Analysis and Strategies

LootboxPhobia · 2026-04-08T12:02:42+00:00

【Yesterday's Gold Review】 Yesterday, spot gold showed a rally followed by a pullback, with the daily candle forming a doji with long upper and lower shadows, indicating intense competition between bulls and bears in the 4600-4700 range. The main reasons are as follows: 1. The Middle East situation temporarily boosted safe-haven sentiment. Iran rejected the U.S. temporary ceasefire request and conveyed a ten-point plan through mediators (calling for a permanent end to the war and sanctions). Iran's new top leader advisor warned of possible actions in the Red Sea and Bab el-Mandeb Strait, increasing concerns over disruptions to global trade routes. Trump set Tuesday at 8:00 PM Eastern Time (Wednesday 8:00 AM Beijing time) as the deadline, intensifying market nervousness. 2. Expectations of Federal Reserve rate hikes suppressed gains, presenting a typical "safe-haven demand vs. rate suppression" dual logic. 【Today’s Market Outlook】 Key intraday resistance and support levels Resistance level above:

LootboxPhobia

2026-04-08 12:02:42

【Yesterday’s Gold Review】
Yesterday’s spot gold showed a rally followed by a pullback. The daily chart closed as a doji with long upper and lower wicks, indicating that bulls and bears are intensely competing in the 4600–4700 range.
The main reasons are as follows:

The Middle East situation temporarily boosted risk-averse sentiment. Iran rejected the United States’ request for a temporary ceasefire, and conveyed a ten-point proposal through the intermediary country/mediators (requiring a permanent end to the war and lifting sanctions). Iran’s newly appointed supreme leader’s advisor warned that action could be taken against the Strait of Malacca (Mandeb Strait), increasing concerns about disruptions to global trade routes.
Trump set Tuesday 8:00 PM Eastern Time (8:00 AM Beijing Time Wednesday) as the final deadline, and market anxiety rose.
Rate-hike expectations from the Federal Reserve capped upside. A typical “safe-haven demand vs. rate pressure” dual logic is playing out.

【Today’s Price Forecast】
Key resistance and support levels during the day
Upper resistance: 4650–4700 USD The 4-hour downtrend line and short-cycle moving-average suppression zone.
Lower support: 4600 USD The whole-number psychological level

Based on technical patterns,

Day chart (Daily K-line): Yesterday’s doji means bulls and bears are temporarily balanced. Today’s close will determine the short-term direction.
4H chart (4H K-line): The recent highs are gradually stepping down, forming a short-term downtrend line that suppresses price. The price has rebounded to the vicinity of the trend line multiple times without breaking through. The short-cycle moving-average system has turned into a bearish alignment, strengthening the downside signal.

Today’s trading ideas:
Go long: Buy near 4600, stop loss 4580, target 4650–4700.
Go short: Sell near 4700, stop loss 4720, target 4650–4620.
This evening through early tomorrow morning is the key window before Trump’s final deadline. If Iran compromises or the situation escalates, gold may see sharp volatility. It is advised to control position size and strictly set stop-loss orders.

Personal views are for reference only; risks are your own. Feel free to exchange ideas. Q: 3145477136

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