Xingran’s 10/7 Midday Outlook on the 4-Hour Gold Market
The 10-year U.S. Treasury yield surged to 5.3%, while the U.S. Dollar Index held above 102 and touched its highest level since April last year. Treasury selling and a stronger dollar continue to weigh on the cost of holding gold. Kansas City Fed President Schmid stated clearly, “Inflation is deeply disappointing, and the Fed must raise rates further to bring it under control,” emphasizing that the Fed’s credibility is at stake. In September, the People’s Bank of China increased its gold holdings for the 23rd consecutive month, bringing official reserves to around 77.5 million ounces; the central bank’s gold-buying rationale remains unchanged. There have been nine attacks in the Strait of Hormuz this month, and two airports in Saudi Arabia have been attacked. Oil prices have rebounded to around $100, with geopolitical risks providing some support for gold.
After falling steadily from a high of 4159, gold bottomed at 4138 and then moved slightly sideways. The current price is 4141. Short-term moving averages have turned down and are weighing on prices. The rebound lacks strength, and the overall trend is choppy and downward. Resistance is at 4148, with strong resistance at 4159; support is at 4138, with strong support at 4130.
Resistance: 4148; strong resistance: 4159; support: 4138; strong support: 4130
Strategy Reference
Entry: Enter a short position on a rebound into the 4147–4150 range
Stop-loss: Above 4159.25
Targets: First target: 4138; second target: 4130
Summary
The 5.3% Treasury yield and the dollar’s elevated level above 102 are the main sources of pressure, while 4138 is a key short-term support level. A rebound into 4147–4150 that meets resistance would offer an opportunity to sell at a higher price; a break below 4130 would open up further downside. Central bank gold purchases and geopolitical risks provide some resilience at the bottom, but are unlikely to change the short-term weak trend. Use a strict stop-loss. $XAU #币安推出BinanceIntelligence
The 10-year U.S. Treasury yield surged to 5.3%, while the U.S. Dollar Index held above 102 and touched its highest level since April last year. Treasury selling and a stronger dollar continue to weigh on the cost of holding gold. Kansas City Fed President Schmid stated clearly, “Inflation is deeply disappointing, and the Fed must raise rates further to bring it under control,” emphasizing that the Fed’s credibility is at stake. In September, the People’s Bank of China increased its gold holdings for the 23rd consecutive month, bringing official reserves to around 77.5 million ounces; the central bank’s gold-buying rationale remains unchanged. There have been nine attacks in the Strait of Hormuz this month, and two airports in Saudi Arabia have been attacked. Oil prices have rebounded to around $100, with geopolitical risks providing some support for gold.
After falling steadily from a high of 4159, gold bottomed at 4138 and then moved slightly sideways. The current price is 4141. Short-term moving averages have turned down and are weighing on prices. The rebound lacks strength, and the overall trend is choppy and downward. Resistance is at 4148, with strong resistance at 4159; support is at 4138, with strong support at 4130.
Resistance: 4148; strong resistance: 4159; support: 4138; strong support: 4130
Strategy Reference
Entry: Enter a short position on a rebound into the 4147–4150 range
Stop-loss: Above 4159.25
Targets: First target: 4138; second target: 4130
Summary
The 5.3% Treasury yield and the dollar’s elevated level above 102 are the main sources of pressure, while 4138 is a key short-term support level. A rebound into 4147–4150 that meets resistance would offer an opportunity to sell at a higher price; a break below 4130 would open up further downside. Central bank gold purchases and geopolitical risks provide some resilience at the bottom, but are unlikely to change the short-term weak trend. Use a strict stop-loss. $XAU #币安推出BinanceIntelligence