On Friday, March 13, international gold prices experienced a slight decline, continuing to trade under pressure below $5,130. Earlier safe-haven demand had pushed gold to a new cyclical high, but as the U.S. dollar strengthened and Treasury yields rose, some capital began flowing out of the precious metals market. Market attention is now entirely focused on U.S. inflation trends, with all eyes on the upcoming PCE data—the inflation indicator the Federal Reserve views as most critical. Should the data indicate persistent inflation, expectations for "higher rates for longer" could intensify, potentially increasing pressure on gold.
International Gold: Gold extended its recent trend today, rising in early trading before retreating as expected. Particular attention should be paid to the upward movement during the midday session. Current charts indicate that the $5,130 area has formed a clear resistance zone, which coincides with a key support-turned-resistance level from the previous day, acting as a short-term pivot point. The European session strategy is straightforward: consider short positions near this resistance level. At the same time, focus closely on the support zone around $5,050, which may present a potential long opportunity intraday. This support level has repeatedly held up gold prices recently, underscoring its importance. If prices retreat to this area, we will closely monitor its support strength, as this will be a key reference for subsequent trading decisions. In the short term, the range between $5,060 and $5,130 should be watched closely.
Medium-Term Outlook: The gold market is currently characterized by a tug-of-war between bullish and bearish forces. Technically, the daily chart maintains a medium-to-long-term uptrend. After breaking through the psychological $5,000 barrier, gold accelerated upward and is now in a phase of consolidation. The area around $5,050 has formed a crucial short-term support zone; its defense will determine whether the bulls can sustain their advantage. Resistance lies in the $5,150–$5,200 range. If safe-haven sentiment reignites, gold may once again test this higher interval. On the 4-hour chart, gold has shifted from a rapid ascent to a corrective consolidation, with momentum indicators suggesting a temporary weakening of bullish strength. Caution is warranted: if the $5,050 support fails, a deeper correction toward the $5,000 psychological level could follow. However, ongoing geopolitical risks may help gold stabilize above $5,100 and build momentum for another attempt at the $5,200 high.
International Crude Oil: Crude oil continues to trade within a high-range consolidation phase on the daily chart. On the 4-hour timeframe, prices are oscillating with a slight bullish bias along short-term moving averages. After breaking above near-term resistance, attention should turn to whether a pullback confirms further upward movement. The hourly chart shows a narrow-range consolidation, with short-term adjustment signals worth noting. Operationally, consider long positions near $94.5–$94.6, with a stop loss at $93.6, targeting the $97.5–$100 range.
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