Yi Chen: Downtrend Over! Gold Surges from 4502, New Bull Market Officially Launched!

From an international perspective, geopolitical conflicts in the Middle East continue to escalate, shipping risks in the Strait of Hormuz are intensifying, and global risk-off sentiment is rising rapidly. Gold's value as a core safe-haven asset is becoming increasingly prominent. Meanwhile, market expectations for Fed rate cuts within the year have not completely faded. With doubts about economic resilience in a high-rate environment, once inflation data declines, the rate-cut window will reopen, providing strong upward momentum for gold.

Technically, the MACD indicator on the four-hour timeframe has completed a golden cross, with green bars turning red releasing strong bullish signals. The price has rebounded strongly from around 4565 near the Bollinger Band lower rail, gradually approaching the middle rail at 4864, with a clear short-term rebound trend. The previous low of 4502 has formed solid support, and the 4650 daily opening price below provides strong protection. Bullish momentum continues to accumulate.

Suggestions:
Scale in on pullbacks to 4650-4670, targets 4750, 4800

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Trade at your own risk. $XAU