Market review

Spot gold kept rising in the Asia‑Europe session, reaching a high of 3656.64 USD/oz. It is now trading around 3652.09 USD/oz, up about 0.50% from the open at 3634.21 USD/oz. The price is oscillating at high levels during the day.

Drivers

Although the technical picture still favors bulls, pay attention to three key points: the price has not moved clearly away from the short-term moving average zone, so breakout momentum is limited; the MACD red bars are growing more slowly, which suggests a short-term technical correction may be needed; and there is strong resistance at current highs, so a new fundamental catalyst is likely required for a clean breakout.

Technical analysis

The 1-hour chart shows bullish signals: the 5-day moving average (3645.00) and the 10-day moving average (3640.00) are in bullish order, and the MACD is running above the zero line with the DIF line above the DEA line.

Although the red bars continue to expand, their growth slope has clearly slowed, indicating that bullish momentum is weakening. The price has attempted several pushes higher but has not broken the intraday high, showing clear resistance at the current high levels.

Trading strategy reference

Spot gold

Long opportunity: buy on a dip to 3595.00 if it stabilizes, target 3615.00

Key logic: important technical support + trend continuation

Spot silver

Long opportunity: buy on a dip to 41.700 if it stabilizes, target 42.000

Note: silver follows gold’s move, pay attention to difference in volatility

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.