Gold surged early in the morning to 4873 and then retreated as expected, dropping from a high and probing down to a low of 4816. Currently, it is fluctuating around 4828.



The current market has shifted from a one-sided surge to a sideways decline, with bullish momentum exhausted, and profit-taking continues to weigh down the market. The technical death cross signal is clear, and there is still room for further decline. The 4850-4870 range is a strong resistance.

Trading suggestions

For a rebound in the 4840-4870 range, initially target a high of 4760; if broken, look further down to 4700-4650.
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