For this spot in gold, I’ll say just one thing:

Looking at the long term, this is a historic-level positioning area in my eyes.

For the short term, you can continue to look for downside—wait for a pullback, worry about volatility—but if you extend the time horizon to half a year, a year, or even longer, in my opinion, the room for gold to fall further from this range, and the room for it to rise in the future, are simply not on the same level.

Gold isn’t really a question of whether you can buy; it’s a question of how much position size you’re prepared to take.

For spot gold, I will treat this area as a zone for building positions in batches over the medium to long term.

For futures, I also believe we’ve already entered a position where it’s worth seriously looking for long opportunities. Of course, for futures you must control leverage and set stop-losses—don’t gamble on direction by betting on getting liquidated.

When the market is at its craziest, everyone thinks it can keep falling.

The real major bottom usually isn’t that prices can’t fall anymore; it’s that most people have already become too afraid to buy.

I’d rather bet on an outcome:

Years from now, when looking back, the fluctuations that you’re obsessing over right now might not be worth mentioning at all.

With gold, I only look at one direction—

Long term: Long.
Big picture: Long.
Extreme expectations: In this region—this is a very cheap spot that you’ll look back on as being so for a long time to come.

I’m not telling you to go all-in, and I’m not guaranteeing this is the absolute bottom.

But if you ask me—do I dare to set up positions here now?

Yes. And the more it drops, the more I pay attention.

#黄金 #XAUUSD #GOLD #贵金属