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2025-10-21 10:10:14
【Short-term operation suggestion for spot gold: oscillating upward, buying on dips】 (1) Analysis reason: Under the combined effect of global risk aversion demand, continued central bank gold purchases, and market expectations of the Fed's rate cut, the structural bull market for gold is still there. Although there has been a pullback recently due to the stabilization of the US dollar or short-term profit-taking, the overall funding and fundamental support are still relatively solid; at the same time, geopolitical and macroeconomic uncertainties continue to provide safe-haven buying for gold prices. The flow of funds in futures and ETFs shows a high degree of bullish participation. Therefore, the short-term bull market is still in a bullish structure, but volatility has further increased. Pay attention to the further trend of the US dollar index and US Treasury yields and the buying rhythm of central banks and institutions. If risk aversion rises again or US Treasury yields fall, gold is expected to continue to rise. (2) Key focus: risk aversion, US dollar index, US Treasury yields (3) Resistance: 4380, 4400, 4430 (4) Support: 4330, 4300, 4280;
