April 22, 2026 Spot Gold Morning Analysis

Good morning! Yesterday, spot gold gapped down at the open in the morning and fell sharply, with an intraday plunge of over $100, as bearish momentum was concentratedly released.

Driven by the expiration of the US-Iran ceasefire agreement and Trump's remarks that he would not extend it, risk-aversion sentiment quickly reversed, and combined with hawkish signals from the Federal Reserve, it further suppressed gold prices.

Technically, the price fell below key support levels of 4800 and 4780; the daily and short-term moving averages are in a bearish alignment, making the downward trend clear.

For today, resistance to watch is in the 4750-4780 range above; support is at 4667 and in the 4640-4600 range below.

Trading should mainly focus on shorting at rebounds. Around 4750 and 4780 on a rebound, you may place short positions with light sizing; the targets are 4700 and 4670, with strict risk management. If the price stabilizes and holds at lower levels, you may take a light short-term long position; enter and exit quickly.

The above is only personal advice for reference and does not constitute investment guidance. For specific arrangements, please follow Cheng Jingsheng Shi Pan layout! $XAU ‌#XAU