April 23, 2026 Spot Gold Midday Analysis

In the morning, gold surged and then pulled back, with the lowest dipping to around 4793, indicating weak short-term consolidation.

The closure of the Strait of Hormuz boosted crude oil significantly higher, putting downward pressure on gold prices and leading to relatively strong bearish sentiment.

However, support at 4700 and 4685 is fairly solid. Multiple tests in the early session failed to effectively break below, so it is not recommended to blindly chase short positions.

Currently, the 1-hour and 4-hour cycles are operating in the mid-to-lower band. The MACD green histogram bars are shrinking, and the RSI has entered the oversold zone. If prices stabilize, a rebound with repair could follow.

For trading, it is recommended to set up long positions based on support at 4700 and 4685. On the target side, look for the 4730 and 4750 area.

The above is only personal advice, for reference only, and does not constitute investment advice. For specific arrangements, please refer to Cheng Jingsheng Shi Pan’s layout!$XAU ‌#美伊二轮谈判进展