Wednesday Gold Trading Strategy

The March market cycle has come to an end, and April officially marks a new beginning. Looking back at the international markets in March, overall they remained highly volatile and uncertain: conflicts in the Middle East continued to escalate, the Russia-Ukraine war entered a prolonged tug-of-war, and multiple geopolitical risks continued to weigh on the global economic recovery. Especially as Iran tightened control over the **Strait of Hormuz**, directly pushing up international energy prices and intensifying global inflation expectations, this significantly cooled down the **Federal Reserve**'s rate cut expectations for the year. The **US dollar index** strengthened, exerting obvious pressure on **gold**. Therefore, even though **gold** has safe-haven attributes, it still experienced a clear correction this month.

As March approaches its end, with the US releasing positive signals of de-escalation, market expectations for peace quickly rebounded; combined with recent weak US economic data, the **US dollar index** retreated from high levels. After intraday gains and subsequent declines, bulls regained strength in the evening, successfully breaking above the 4600 level and pushing toward the 4700 mark. In the early session, prices continued upward to 4723 before a slight correction.

For trading, it is recommended to rely on the **4660—4670** support zone for initial long positions, with a focus on resistance around 4740. #四月行情预测