Gold consolidates at high levels with upward momentum, short-term corrections do not alter the medium- to long-term upward trend

January 14, 2026, Spot Gold Intraday Analysis
Investing is like climbing a mountain; there are always ups and downs along the way. Only those who can endure the loneliness of adjustments can seize the dividends of the trend. Although the current gold market has experienced short-term pullbacks, the fundamentals and technical support remain unchanged. Rationally viewing the volatility allows us to grasp subsequent opportunities.
Last night, the US December CPI data showed a year-on-year and month-on-month increase of 2.7%. After the release, gold prices briefly surged to 4635 before pulling back; market expectations for a Fed rate cut in 2026 have intensified, the central bank continues to buy gold, and geopolitical risks remain. These factors provide medium- to long-term support for gold prices. However, the CME adjusted the margin calculation method for precious metals, increasing speculative costs, and Bloomberg's commodity index rebalancing triggered a short-term sell-off wave, putting some pressure on gold prices.
On the daily chart, gold remains above the moving average system, with the bullish pattern intact. Although there is a short-term correction, support below is strong. On the four-hour chart, after the Bollinger upper band faced resistance and the price fell back, the MACD red bars narrowed but remained above the zero line, indicating that bullish momentum has not fully exhausted. The one-hour KDJ indicator is turning downward for correction, and after probing the bottom at 4578 on the 5-minute cycle, signs of stabilization appeared, showing limited short-term correction strength, likely completing a sideways consolidation to digest technical factors.
Today's forecast: mainly buy on dips, with short-term positions in the 4550-4560 range, stop-loss at 4540, and targets between 4600-4630. If the price breaks through 4630, further targets can be considered at 4650.
If gold falls below 4563, try a small short position with targets around 4520-4500.
The above is only personal advice for reference and does not constitute investment advice#黄金：