1.9 Morning Gold Analysis and Trading Guidelines

On Friday evening, the non-farm payroll data will be released with significant impact. Everyone must manage risk carefully and cautiously respond to market fluctuations.
Morning Gold Market Commentary: The US Embassy issued a warning that Ukraine is highly likely to experience large-scale airstrikes in the coming days. The geopolitical situation is heating up again, with one wave after another, and the risk aversion sentiment may continue to disturb the gold market.

Reviewing yesterday’s gold price movement, it dipped to around 4407 but failed to break through the key support level of 4400, preventing the continuation of the bearish momentum. Subsequently, the market reversed. During the Asian and European sessions, gold prices mostly consolidated sideways, then continued to rise after the US open, ultimately closing near 4477. Short-term resistance levels are at 4485 and 4500. The next focus is on the Asian session opening—whether prices will break through resistance directly or face resistance and pull back for consolidation.

From the four-hour chart perspective, gold is currently oscillating at high levels, with upper resistance from the upper band. If it cannot break through resistance to open up upward space, gold is likely to pull back in the short term, but the pullback is expected to be less than previous declines of hundreds of points. Support levels are mainly around 4450.

After the Asian session opens, the gold trading suggestions are as follows:

1. Consider short positions if prices rebound to 4500, targeting a 30-40 point move, with a stop loss above 4515;

2. Enter long positions if prices pull back to around 4450, targeting approximately 30-40 points, with a stop loss below 4438.

The subsequent market trend will be adjusted according to actual price movements, and updates will be provided to review and refine trading strategies.