3.25 Xianjing Midday Review

The weakening US dollar index combined with a marginal pullback in 10-year US Treasury yields directly reduces the opportunity cost of holding gold, opening upside space for a gold price rebound.

Market risk-aversion logic has reassumed dominance, as the Middle East geopolitical situation has not shown significant improvement, coupled with the global de-dollarization trend and continued central bank gold purchases providing support. Gold's safe-haven attributes and credit hedge value have become prominent again, effectively offsetting some of the suppression from the high interest rate environment.

Market sentiment has shifted rapidly, switching from earlier pessimism and selling pressure to a warming of bullish sentiment. Morning panic emotions have been noticeably repaired, with funds flowing back into precious metals markets, and bullish momentum gradually accumulating.

From a technical perspective, the 5-minute Bollinger Bands show that the gold price surged to touch the upper band early in the session before pulling back under pressure and currently trading below the middle band. The middle band constitutes key short-term resistance, while the lower band serves as important support. Short-term moving averages are turning downward; if prices fail to reclaim the middle band in the afternoon session, short-term prices will likely continue consolidating with a weak bias. Once stabilizing and rising through the upside resistance, it is expected to make another attempt toward the 4602 previous high.

Trading strategy: Consider building long positions in batches in the 4520-4540 range, with targets toward the 4570-4610 area. $XAUT #贵金属领涨