During the week starting April 13, the price of London gold opened at $4,670.23 per ounce, with a high of $4,889.51, a low of $4,643.99, and a close of $4,832.63 per ounce. Market participants believe there is a high probability that the international gold price will continue to fluctuate and rebound this week. According to a reader survey conducted over the past week, 52% of respondents expect the price to rise, 30% expect sideways movement, and 18% expect a decline.

To Di
Independent Analyst

This week’s key resistance/support level is $4,788
From a fundamental perspective, the situation in the Middle East continues to influence global gold prices; the traditional logic of safe-haven assets is temporarily not working. Investors this week should pay attention to geopolitical events following the expiration of the temporary ceasefire agreement between the US and Iran on April 22, as well as statements from Federal Reserve officials and changing expectations regarding interest rate cuts.

From a technical perspective, in the short term, international gold prices remain in a sideways corridor; additional catalysts are needed for a breakout.
This week’s key resistance/support level is $4,788 per ounce, and the current price fluctuates near this level, indicating uncertain market sentiment, with the struggle between bulls and bears intensifying. The direction remains uncertain.
If the international gold price breaks upward beyond the range, watch for resistance around $4,933 per ounce, and upon a sustained breakout, the next target is $5,034. If the price falls below the current range, support is around $4,688, with the next support at $4,543 per ounce upon a downward breakout.

Zhou Zhicheng
Independent Analyst

International gold and silver prices may rebound
Influenced by the situation in the Middle East, in March, gasoline prices in the US rose by 21% compared to the previous month, and the price of fuel oil increased by 31%. The market fears that the growth of the key consumer price index may exert an amplifying effect on the personal consumption expenditure index, which is a focus of the Federal Reserve.