9.23 Jin Ke Gold Midday Wrap: A sharp drop of 43 points blasted a gold pit! Support identified
Gold surged to around 4369 early in the session, then faced concentrated selling pressure from the bears. The price quickly plunged, moving sharply downward. During the day, it bottomed out at 4326 before halting the decline and stabilizing. Afterwards, the chart entered an oversold technical rebound, but upside momentum remained limited.
The Fed’s rate-cut cycle has officially begun. Expectations for further cuts later this year continue to build. The US Dollar Index stays in a range-bound consolidation and hasn’t formed a sustained strengthening trend, so its pressure on gold is relatively limited.
From the 10-minute cycle chart, after price broke below the prior consolidation range, it entered a low-level consolidation phase. Although short-term bearish forces still have the upper hand, after a round of rapid release, bearish momentum has clearly weakened.
Pull back to the 4300–4320 area to place long positions. Targets: 4360 and 4380.
$XAU $ZEC #黄金
Gold surged to around 4369 early in the session, then faced concentrated selling pressure from the bears. The price quickly plunged, moving sharply downward. During the day, it bottomed out at 4326 before halting the decline and stabilizing. Afterwards, the chart entered an oversold technical rebound, but upside momentum remained limited.
The Fed’s rate-cut cycle has officially begun. Expectations for further cuts later this year continue to build. The US Dollar Index stays in a range-bound consolidation and hasn’t formed a sustained strengthening trend, so its pressure on gold is relatively limited.
From the 10-minute cycle chart, after price broke below the prior consolidation range, it entered a low-level consolidation phase. Although short-term bearish forces still have the upper hand, after a round of rapid release, bearish momentum has clearly weakened.
Pull back to the 4300–4320 area to place long positions. Targets: 4360 and 4380.
$XAU $ZEC #黄金
