On April 3, the long positions suggested in yesterday's article were directly given at the 4590-4580 range, with real-time long entries recommended. Gold rebounded to a high near the 4700 level, indicating a bottoming-out recovery. Yesterday, we successfully identified multiple entry points around 4590-4595, achieving substantial profits upon closing positions. The timing of the article can be verified, with no hindsight bias involved. In the morning session, spot gold experienced a high-level pullback as anticipated, quickly retreating from around 4800 USD to the 4550 USD level. Short-term profit-taking concentrated, completing a technical "deep squat" maneuver. Next week's market is expected to focus on bottom exploration and stabilization, with oscillatory repairs prevailing. The pullback does not alter the short-term bullish trend; the deep squat is merely a buildup for an upward leap. (Due to the Western Easter holiday today, gold, silver, and crude oil markets are closed all day.) On the news front, heightened hawkish expectations from the Federal Reserve and a strengthening US dollar are temporarily suppressing gold prices. However, ongoing gold purchases by global central banks and unresolved Middle East geopolitical conflicts are reinforcing a solid foundation for gold. The previous rally from 4350 USD to 4800 USD, exceeding a 10% gain, makes the current retracement a normal profit-taking phase rather than a trend reversal. Tonight's US non-farm payroll data will be critical (scheduled for release as usual). Weaker data could reignite expectations for interest rate cuts, supporting a rebound in gold prices.
For real-time trading guidance during the day, refer to live account updates.
Preliminary intraday trading level suggestions are provided below, with specific entry and exit points subject to real-time account notifications: Focus on buying gold on dips with caution against chasing declines. If gold stabilizes within the 4610-4630 USD range, consider initiating long positions, targeting 4700-4750 USD, with a stop loss set below 4580 USD. The current deep squat in gold represents accumulated momentum before an upward jump. We await guidance from the non-farm payroll data to capitalize on low-buying opportunities.
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