February 6, 2026 Spot Gold Morning Analysis

Spot gold is primarily trading within a range, with a focus on oscillating corrections and buying the dips.

From a news perspective, the slight rise in the US dollar index has mildly suppressed gold prices; last week, US initial jobless claims exceeded expectations, indicating a marginal weakening in the labor market. The Federal Reserve's rate cut expectations still exist, providing support for gold prices. The CME has again increased margin requirements for gold and silver futures, and with mixed bullish and bearish factors, the trading range remains difficult to break.

Technically, after a sharp decline overnight, gold prices rebounded weakly this morning. Short-term support is seen around 4650, with a key resistance at 4780. The overall trend remains within a range, showing no clear breakout signals.

Intra-day, gold's upward momentum is weak. Each rebound has been a technical correction during a pullback. Trading strategies should rely on high and low points within the range, with light positions. It is recommended to buy on dips near 4800-4830 in batches, targeting levels around 4700-4650-4600!!

The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific strategies!$XAUT ‌#XAU