3.25 Afternoon Review

The weakening US dollar index combined with marginal decline in 10-year US Treasury yields directly reduced the opportunity cost of holding gold, opening upside space for a gold price rebound.

Market risk-aversion logic has regained dominance. The Middle East geopolitical situation has not shown significant easing, coupled with the global de-dollarization trend and continuous gold purchases by central banks worldwide to support the market floor. Gold's safe-haven attributes and credit hedging value have become prominent again, effectively offsetting some of the suppression brought by the high-interest-rate environment.

Market sentiment has rapidly shifted, transitioning quickly from previous bearish short positions to bullish recovery. Morning panic sentiment was notably repaired, with funds flowing back into the precious metals market and bullish momentum gradually accumulating.

From a technical perspective, the 5-minute Bollinger Bands show that early morning gold prices surged to touch the upper band but then pulled back under pressure. Currently trading below the middle band, which constitutes a key short-term resistance level, while the lower band serves as important support. Short-term moving averages are turning downward. If prices fail to regain a foothold above the middle band in the afternoon, short-term prices will likely continue consolidating with a weak bias. Once stabilizing and breaking through the overhead resistance, there is potential to launch another assault toward the previous high of 4602.

Trading strategy: Can arrange long positions in batches within the 4520-4540 range, with targets toward the 4570-4610 area. $XAUT #贵金属领涨