Moyao: Gold Morning Analysis on April 8:

After the opening this morning, gold continued to fluctuate mildly stronger, with prices quickly rising toward the high levels, but the upward momentum was clearly insufficient. After reaching a peak, it immediately pulled back, indicating that selling pressure above remains relatively heavy.

On the news front, the market was influenced by strong statements earlier, with risk aversion sentiment briefly increasing, which pushed gold to rise rapidly. Meanwhile, uncertainties surrounding the Middle East situation are still fermenting, coupled with market concerns over key shipping lanes, leading to a temporary increase in risk-averse demand. However, such news-driven moves are often limited in sustainability; once sentiment eases, prices tend to retrace. Therefore, it’s not advisable to chase long positions at high levels.

From a technical perspective, gold is still in a high-level consolidation structure, with dense resistance above, limiting the rebound space. The short-term continuous attempts to push higher have failed to stabilize effectively, indicating insufficient bullish continuation. It’s more prudent to focus on shorting on rebounds during the day.

Key resistance areas to watch are around 4825-4835, with further strong resistance near 4850.