March 23, 2026 Spot Gold Morning Analysis

Last week's gold market was exceptionally weak, declining significantly throughout the week and recording the largest single-week drop in years. Only at the close did it stabilize slightly. The overall trend was completely dominated by bears, with bulls having no counterattacking power.

On the news front, the main sentiment is that Fed rate cuts will be delayed further. The US dollar and US Treasury yields remain quite strong, combined with cooling risk-aversion sentiment from geopolitical conflicts, which naturally keeps gold from rising. There are no major data releases today, so the market will mainly follow technical trends.

Gold prices remain in a downtrend, but due to the significant decline, indicators show oversold conditions, suggesting a possible short-term rebound correction. However, upside resistance is substantial, and rebound space will be limited. The 4450-4480 level is key support below, while 4550-4600 represents pressure levels above.

Morning gold will likely see low-level consolidation with a minor initial rebound, but after the rebound, prices will likely pullback. Operationally, avoid blindly buying the dip. Short at resistance after rebounds; if looking to go long at lower levels, only use light positions and must set stop-losses to control risk.

Recommendation: On pullbacks to 4450-4470, enter long positions in batches upon stabilization with a 4440 stop-loss. First target 4530-4550; if broken, look for 4580. Avoid chasing blindly; use light positions and strict stop-losses.

The above is only a personal suggestion for reference only and does not constitute investment advice. Please refer to Cheng Jingsheng Shipan's specific layout for details!! $XAU