Gold Market Daily: April 8th Gold Price Analysis and Trading Strategy

Trump Agrees to a Two-Week Ceasefire With Iran
On Tuesday evening local time, U.S. President Trump posted on social media, saying that after a call with Pakistan, he agreed to pause the bombing and attacks on Iran for two weeks, provided that Iran agrees to “fully, immediately, and safely” open the Strait of Hormuz. At this moment, it was less than an hour and a half before Trump’s “final deadline” for Iran.

In his latest post on Truth Social, Trump said: “I agree to delay the bombing and attacks on Iran for two weeks. We received a 10-point proposal from Iran and believe it is a viable basis for negotiations.”

Trump noted that the prerequisite for this “bilateral” ceasefire agreement is Iran’s agreement to open the Strait of Hormuz.

Trump said that Pakistan’s Prime Minister Shehbaz and the Chairman of the Joint Chiefs of Staff, General Munir, requested that the U.S. airstrike on Iran be delayed that evening. Based on his conversations with them, as well as on the condition that Iran agrees to “fully, immediately, and safely” open the Strait of Hormuz, he agreed to the two-week ceasefire and emphasized, “This will be a two-way ceasefire.”

Directly driving spot gold

The price surged to around $4,857 per ounce, jumping more than $145 intraday. In a social media post, Trump said he has agreed to pause the bombing—less than two hours before his self-set “destroy all of Iran’s civilization” final deadline. Oil prices plunged, the U.S. dollar weakened, and this supported gold prices.
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【Yesterday’s Gold Review】
Yesterday, gold opened at $4,658.85, dipped to a intraday low of $4,606.79, then rose to touch $4,718.74. It ultimately closed the day at $4,701.4, forming a bullish candle with a long lower wick. After the Asian session opened, price first pulled back. During the U.S. session, the bulls began to gain strength, gold prices surged straight up, and then consolidated in a range, producing a typical “V-shaped” reversal. The core drivers: yesterday’s rebound from the low was mainly supported by technical buying and a dual boost from geopolitical safe-haven demand. Although strong U.S. “nonfarm” data suppressed rate-cut expectations and created short-term pressure on gold prices, when gold pulled back to the key psychological level of $4,600, it triggered bargain-buying orders, while market concerns about the Middle East limited the downside room.

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Yesterday’s market action perfectly matched the analysis expectations. If you wait patiently, your returns will surely rise to the next level. Trading is just like this: you give it time, and it gives you returns—and it gives you opportunities too. What we can do is wait, wait, wait.

【Today’s Trading Forecast】
Intraday Key Resistance and Support Levels
Resistance above: $4,850–$4,900 — one is the early-session high point zone, representing initial resistance for the short term; the other is the round-number level.
Support below: $4,700 — round-number level.

Based on technical pattern judgment:
The day before yesterday saw a doji; yesterday’s pullback and confirmation mean that the bottom near $4,600 is valid. This hurdle has been successfully crossed. Next, $4,700 is the new short-term bottom. In terms of trading, it’s recommended to follow the trend: buy on pullbacks as the main strategy, and sell on rallies as a secondary strategy. It’s not advisable to chase price blindly; wait for a pullback confirmation of support.

Trading ideas for today:
Long: go long near $4,700–$4,720; stop loss $4,680; targets $4,780–$4,800–$4,850

Short: go short near $4,850; stop loss $4,870; targets $4,800–$4,750

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Personal advice only, for reference; risk is yours to bear.
Risk first, safety second. The market is something you wait out, and trading is done one trade at a time. Only by认真做好 every trade can it be the greatest respect you show for yourself. Q:3145477136