April 7, 2026 Spot Gold Morning Analysis

Yesterday, spot gold overall saw a pattern of opening lower and then moving higher. During the session, it briefly probed down to around the 4600 level, then rallied and touched the 4706 area, with a daily gain of nearly 100 points. Last Friday’s non-farm payroll data was strong, and combined with the market’s prior holiday closure buffer, bearish sentiment had already been fully absorbed, with the downward pressure on the price action greatly reduced.

From the 1-hour and 4-hour cycle charts, the gold price is still trading within the lower-band range of the upward channel. The overall long trend remains unchanged, but upward momentum is relatively weak, and there is not much appetite to push higher in the short term. The support at 4640 (standard support) and the strong support at 4610 have established a solid bottom defense. If there is no major, high-impact sudden news to trigger the move, it will be difficult for the market to fall into a deep overshoot correction or to enter an extreme scenario of an immediate, rapid rally. In the short term, the strength-weakness rhythm mainly follows the dollar and U.S. Treasury bond correlation-driven momentum. Most likely, it will continue to maintain a tight consolidation range of 4640-4700.

In terms of trading, you can rely on the 4640 support to go long in line with the trend. In the short term, look first for a 4700 target break to strengthen the move. If price stabilizes and holds, continue looking toward the 4730 high-zone range. For risk control, the defensible stop should be placed at 4630.

The above is only personal advice for reference and does not constitute an investment basis. Please refer to Cheng Jingsheng and Shi Pan’s layout for the specific plan! #x$XAU ‌ ‌#XAU