Zeng Jince: Analysis of International Gold Price Movements and Latest Trading Recommendations

From a fundamental perspective, February 2nd saw bearish factors dominating the gold market: heightened expectations for a hawkish nomination of the Federal Reserve's Waller, a delayed timeline for interest rate cuts, and a strengthening US dollar and Treasury yields. Additionally, exchange-mandated margin increases triggered leveraged position liquidations and profit-taking, while geopolitical risk premiums receded. Bullish support factors include the ongoing trend of global central bank gold purchases, UBS's upward revision of its price target to $6,200 per ounce, and unchanged long-term fundamentals.

From a technical analysis standpoint: On the daily chart, gold prices experienced a sharp, rapid decline, with bearish momentum remaining strong. The RSI technical indicator is in a state of retreat from overbought territory, the MACD shows a death cross with the red and green histogram transitioning, the Bollinger Bands are narrowing, and the price is hovering near the middle band, indicating a top-touching, sharp-falling pattern.

On the 4-hour chart, gold prices plummeted rapidly, with the price positioned near the lower Bollinger Band. The Bollinger Bands are expanding, the MACD green histogram is increasing, the death cross is active, and bearish momentum has intensified; the RSI technical indicator is also in a state of retreat from overbought conditions.

On the 1-hour chart, gold prices are in a sustained暴跌, with the Bollinger Bands opening downward, the MACD death cross active, and the RSI technical indicator in a weak state after retreating from overbought levels, warranting caution against the potential for continued sharp declines.

Looking ahead to gold market operations: For long positions, aggressive traders can rely on the support level of $4,400 per ounce, entering long positions near $4,425-$4,435 per ounce after stability is confirmed; conservative traders should base their strategy on the $4,250 per ounce support level, entering long positions near $4,265-$4,275 per ounce.

For short positions, aggressive traders can use the resistance level of $5,000 per ounce, entering short positions near $4,995-$4,985 per ounce after encountering resistance; conservative traders should base their strategy on the $5,600 per ounce resistance level, entering short positions near $5,585-$5,575 per ounce.