Market review

On Sept 9 Asian session, spot gold opened at 3,628.00 USD/oz and quickly rebounded. In the European session it reached a high of 3,659.10 USD/oz and a low of 3,627.69 USD/oz. It is currently trading near 3,649.59 USD/oz, up 0.38% on the day. Price is moving higher in a choppy pattern, with bulls remaining in control.

Technical analysis

The 1‑hour chart shows the 5‑period moving average (3,635.00) and the 10‑period moving average (3,620.00) in a bullish alignment, providing solid support. The Bollinger Bands are slightly widening and price is near the upper band (3,655.00); the lower band support is at 3,615.00. Short‑term technical bias is bullish, but be cautious of a possible technical pullback near the upper band.

Trading strategy reference

Spot gold

Buy opportunity: buy on a dip to 3,600.00 if it holds, target 3,620.00

Key logic: moving‑average support + trend continuation

Spot silver

Buy opportunity: buy on a dip to 40.600 if it holds, target 41.000

Trading note: follows gold; manage position size

Risk warning: Trading markets carry unpredictable risks, including but not limited to loss of principal. This analysis is for reference only and does not constitute direct investment advice. Investors should make independent judgments and decisions based on their own risk tolerance.