The gold price in the early session continued the overnight weak fluctuation. After probing the bottom at 4967 last night, it rebounded in a V-shape to around 5020 and came under pressure again. The early session saw minor consolidation around the 5000 level. The small-scale rebound is merely an indicator correction and has not reversed the bearish trend; the short-term remains weak.
From a major trend perspective, the Federal Reserve's March rate decision is approaching, recession expectations continue to cool, and the strong US dollar and US Treasury yields are suppressing gold prices. Institutions are taking profits at high levels, the golden weekly death cross continues, and multiple bearish factors converge. The early session today still favors short positions, with rebounds as shorting opportunities.
Operationally, short around 5030-5050 on rebounds, with stop-loss defense above 5065, target 4980-4960, and if broken, aim for below 4880.
Risk Disclaimer: Investment carries risk; enter the market with caution. The above analysis is for reference only and does not constitute investment advice.
Jingdachuan 3.17 Gold Morning Review
The gold price in the early session continued the overnight weak fluctuation. After probing the bottom at 4967 last night, it rebounded in a V-shape to around 5020 and came under pressure again. The early session saw minor consolidation around the 5000 level. The small-scale rebound is merely an indicator correction and has not reversed the bearish trend; the short-term remains weak.
From a major trend perspective, the Federal Reserve's March rate decision is approaching, recession expectations continue to cool, and the strong US dollar and US Treasury yields are suppressing gold prices. Institutions are taking profits at high levels, the golden weekly death cross continues, and multiple bearish factors converge. The early session today still favors short positions, with rebounds as shorting opportunities.
Operationally, short around 5030-5050 on rebounds, with stop-loss defense above 5065, target 4980-4960, and if broken, aim for below 4880.
Risk Disclaimer: Investment carries risk; enter the market with caution. The above analysis is for reference only and does not constitute investment advice.