4/2 Morning Gold Outlook

Today’s morning gold market continues to be influenced by escalating geopolitical tensions, combined with the impact of Trump’s speech at 9:00 AM regarding the latest developments in Iran war. Safe-haven sentiment is rising, and gold prices remain bullish, pushing above 4800 before slightly pulling back. This is a normal correction after a strong rally and does not indicate a market weakening.

From the technical perspective, the Bollinger Bands are opening upward, with prices supported by the middle band. There is sufficient buying support below, and the upward trend remains intact. In the short term, the core support zone is around 4770-4760. Although indicators show a slight correction and recovery need, after a pullback and stabilization, prices are expected to rally again, aiming to break above the previous high of 4800 and target above 4850. Today’s Asian and European sessions will mainly see a pullback to buy on dips.

Trading Suggestions
Conservative: Buy near 4760-4770 on pullback, with a stop at 4740, target 4850-4880, and break above to 4920.
Aggressive: Buy around 4780 at current prices, with a stop at 4750, targeting the same levels as above.