4.13 Gold Morning Review

On April 13, gold opened with a significant gap down, touching a low of 4645. The sharp decline was mainly due to a combination of risk aversion retreat, Federal Reserve hawkish pressure, and technical breakdowns, all releasing a concentrated wave of negative signals.

Negative Analysis
1. Risk aversion retreat, capital withdrawal
Over the weekend, the Middle East situation did not worsen further, and shipping risks under the Iran-U.S. ceasefire framework significantly eased. Previously inflow of risk-averse funds due to conflicts quickly exited the market, becoming the direct trigger for the early weakness. Coupled with cooling global trade friction expectations and rising risk appetite, funds continued to flow out of precious metals.

2. Fed hawkish stance, easing rate cut expectations
The Federal Reserve meeting minutes leaned hawkish, with rate cut expectations continuously revised downward. The dollar index and U.S. Treasury yields remained high, keeping gold holding costs elevated, and short-term momentum continued to build. In a high-interest-rate environment, the appeal of interest-free gold significantly weakened.

3. Technical breakdown, stop-loss selling amplifies the decline
Gold prices had been oscillating above 4700 for a long time, but early in the session, they broke below a key support level, triggering a large number of algorithmic stop-loss orders. Coupled with low liquidity in the morning, selling pressure was quickly amplified, forming a clear gap down.

The current weak pattern is clear, with limited room for a rebound.

Key support: 4600 integer level (strong psychological and technical support)
Short-term resistance: 4700–4720 (resistance from gap down and moving averages)
Before stabilization, expect oscillation with a slight bearish bias and selling on rallies; if 4600 is broken, further downside space may open. $BTC $ETH ‌$XAU ‌