April 6, 2026, Spot Gold Midday Analysis

The gold price opened lower and continued to decline in the early session, dropping to around 4608 before quickly rebounding to around 4645 for consolidation. Over the past two trading days, it has fallen more than $110, pressured by strong non-farm payroll data, a strengthening dollar, and profit-taking. Today’s morning session saw a sharp decline followed by a weak rebound, overall still a correction within a bearish trend.

Non-farm payroll data exceeded expectations, nearly eliminating the Fed’s rate cut expectations. The dollar and bond yields strengthened together, heavily suppressing non-yielding gold. With no major data releases in the short term, the market is mainly digesting previous declines, with bulls and bears repeatedly battling around 4645.

Current price is 4645. The daily chart shows a bearish arrangement, with oversold conditions requiring a correction. Support levels are at 4610-4600; a break below likely targets 4590. Resistance levels are at 4660-4680; any rebound remains weak.

Trading suggestions: Stabilize around 4610-4600 with a small long position, stop loss at 4580, target 4660-4680; if rebounding to 4660-4680 encounters resistance, take a small short position, stop loss at 4700, target 4610. Strictly maintain small positions and set proper stop losses.

Due to potential sharp volatility caused by sudden geopolitical developments or speeches by Federal Reserve officials, risk control is essential. Do not hold large positions or chase trades recklessly.

The above is for personal reference only and does not constitute investment advice. Please follow the layout of Cheng Jingsheng Shi Pan for specific trading strategies! $XAU ‌#XAU