1.26 Gold Morning Review

Good morning, Happy Laba Festival, warm Laba porridge, end-of-year health. May the treasures have smooth investments and everything go better than expected!

First, let's look at the news. US January PMI for three sectors fell short of expectations, with weak employment and new orders, reinforcing the Fed's expectation of interest rate cuts by 2026. Coupled with rising US debt risks, dollar fluctuations at low levels, and geopolitical tensions in the Middle East boosting risk aversion, gold has become the preferred hedge for capital against risks. The world's largest gold ETF (GLD) added 6.87 tons on January 23. Over 90% of central banks plan to increase gold holdings by 2026, and physical gold shortages support higher gold prices.

From a technical perspective, the daily MACD shows a bullish crossover with increasing red bars, indicating strong bullish momentum. The Bollinger Bands are opening upward, with prices climbing along the upper band, showing a vigorous upward trend. The four-hour chart shows high-level consolidation with expanding Bollinger Bands, positive indicator resonance, and sufficient short-term upward momentum.

Trading Strategy:

Go long on gold at 4960 (hourly middle band + previous day's low point for a rebound with reduced volume); add positions at 4946 (moving averages + 0.382 Fibonacci level, double support); set a stop loss at 4635 (monthly 55 MA + breakout platform, exit if broken). Target price range: 5030-5060.