March 13, 2026 Spot Gold Midday Analysis

This morning, spot gold price movement fully aligned with our forecast. It faced selling pressure around 5130 and pulled back after an early rally, showing overall weak oscillation.

Yesterday's sharp decline in gold prices broke through short-term moving averages on the daily chart, with bears in control. The 4-hour chart continues weakening, with 5130 as an obvious resistance level above. Whenever bulls reach this level, they lack momentum and pull back directly. Below, we first watch the 5100 support level, and if broken, we'll focus on around 5050. This morning showed limited volatility—just the rhythm of high-level pressure and low-level testing.

On the news front, it's straightforward: First, the Fed rate cut expectations continue cooling, with market participants expecting very few cuts this year, causing U.S. dollar and bond yields to strengthen, which naturally suppresses non-yielding gold. Second, yesterday evening's U.S. employment data was solid, further crushing rate cut expectations and weighing on gold. Third, while Middle East tensions have some fluctuations, they haven't escalated yet, and safe-haven buying is limited, unable to support gold prices.

We predicted early resistance and pullback around 5130 this morning, and the market delivered precisely as forecast. Gold oscillated within the 5100-5130 range, with failed rallies and supported declines—bears still dominate the short-term.

Operationally, on rebounds to the 5120-5130 resistance zone, you can go short following the trend. Below, watch the two support levels at 5100 and 5050. If broken, look for lower levels.

The above is solely personal advice for reference only and does not constitute investment basis. Please refer to Cheng Jingsheng Shimabu's specific positioning for actual guidance! $XAU ‌#XAU