XAU Gold Market Analysis 2026.04.09

Gold accelerated its rally yesterday after the US-Iran conflict temporarily eased, but no sustained momentum followed, which confirms the view that "the rise here is essentially just a rebound." Specific historical events and news only accelerate the market process but do not change its overall trend.

If the rebound from 4100 corresponds to the blue downward segment on the chart, then it has already met the basic requirements, meaning the rebound is about to end or has already ended. If the price then falls below 4553, it confirms that gold will follow the blue route.

If this week/next week the price can break above 4910 (the blue zone on the chart), there is still a possibility of following the red route. After the first wave of rebound from 4100 reaches its end and if the pullback does not break below 4553, there could be another wave of similar magnitude upward. The entire rebound could extend its endpoint near the historical high.

If the price does not fall below 4553 in the next two days, I personally lean toward the possibility of at least one more rebound higher than 4860. There are two key resistance levels to watch above—around 4910-4930 and 5010-5025.

For those who cannot accept the idea that "trading is a game of probabilities and the market is constantly changing," I believe it will be difficult to succeed in trading. Sooner or later, a rigid mindset will lead to pitfalls. #XAU $XAUT