Risk aversion tide recedes + policy bearish signals: Gold hits new highs then faces an $80 deep correction

Analysis of spot gold on January 22, 2026: Yesterday, gold's Asian session directly entered a rally mode, reaching a new high of 4888. It then faced resistance and pulled back, with a low of around 4755, overall experiencing a rollercoaster ride!

The main reason for the correction yesterday was the rapid cooling of geopolitical risk aversion, the US canceled the previously planned tariffs on Europe, risk capital flowed back, and gold safe-haven buying sharply decreased; the Federal Reserve's policy negotiations settled, boosting the dollar with independent decisions, US bond yields rebounded in tandem, suppressing non-yielding gold; regulatory upgrades in precious metals speculation, domestic futures margin increased, and leveraged funds exited, intensifying selling pressure;
After gold price hit a historic high of 4888 USD, institutions took profits at high levels, and algorithmic selling amplified the correction. After touching the 4888 USD high, indicators like RSI entered a severely overbought zone, indicating a correction was needed; however, the overall pattern remains intact.

Today is likely to show a oscillating correction, mainly a pullback. It is recommended to enter on the dip around 4775-4780, targeting near 4820-4840.

This is only a personal suggestion for reference. Please follow Cheng Jingsheng's layout for specifics!#现货黄金