April 27, 2026 Spot Gold Morning Analysis

Last week, spot gold generally maintained a weak oscillation pattern, with a gap-down opening at the beginning of the week followed by a brief rebound, and the market gradually weakened during the week. On Friday, gold prices surged to around 4740 but faced resistance and pulled back, ultimately closing near 4708.

Over the weekend, market news was generally calm with no significant positive or negative catalysts. The opening market is expected to have limited volatility, and the short-term trend remains neutral and consolidating. Coupled with uncertainties in the US-Iran geopolitical situation, market sentiment is cautious, and gold is likely to continue its range-bound oscillation.

In the short term, key resistance levels are at 4740 and 4800, while core support levels are at 4680 and 4650.

Operationally, it is recommended to wait for a rebound and stabilization at the support levels of 4680 and 4650 before considering low-buy positions. The upward targets are sequentially 4700, 4730, and 4780.

The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific strategies. $XAUUSD ‌#XAU