April 27 Wenjie Gold Evening Review

Today, gold generally surged and then pulled back, with a slight rebound during the day but lacking upward momentum. Overall, it is in a high-level weak consolidation, with market sentiment heavily cautious.
Fundamental aspect: The US dollar and US Treasury yields remain strong, with rate cut expectations delayed, continuously suppressing gold prices; combined with tomorrow’s PCE data and Federal Reserve decision approaching, funds are generally cautious, making it difficult to see a unilateral upward move in the short term, only geopolitical and central bank gold purchases providing support, limiting deep declines.
Technical aspect: Gold price rebound faces resistance, with 4730–4750 as the evening’s key strong resistance zone. Bullish momentum is insufficient, and the short-term outlook is generally bearish. Key support below is at 4680; a break below will further test 4650.
Evening Trading Strategy
Overall trend: Consolidation with a bearish bias, mainly shorting on rebounds
Resistance: 4730–4750
Support: 4680, 4650
Rebound shorting: Light short positions at 4720–4730, stop loss above 4750, target 4680–4650
Stabilize for short-term long positions: If the price retraces to 4650–4660 and stabilizes, consider light long positions, with a stop loss below 4620, targeting 4700–4720.