Juejin Old Cat · Morning Gold Strategy

The market always rewards those who dare to stay firm on their direction at key points. Hesitation and indecision will only cause profits to be lost in volatility. Today, we choose to stand on the side of the trend and remain bullish on gold.
Spot gold (XAUUSD) continued last Friday's strength in Monday's early trading. Currently, the quote is $5,279.95 per ounce, up $94.95 from yesterday's close, a 1.83% increase, with a high of $5,280.86 during the session. From a technical perspective, on the 1-hour chart, the price has strongly broken through the upper band of the Bollinger Bands, with strong bullish momentum. The short-term moving averages are arranged in a bullish configuration, providing solid support for the upward movement. Meanwhile, the large bullish candlestick last Friday completely reversed the previous consolidation pattern, and the bullish trend has been established. On the news front, geopolitical uncertainties and market expectations of an earlier rate cut by the Federal Reserve are the core driving forces behind this round of gold price increases. These two factors are unlikely to reverse in the short term, providing ample fuel for the continuous rise in gold prices.

We remain bullish with a target range directly at 5300-5350, focusing on the key level of 5330. In terms of operation, after a gap-up at the open, if the price pulls back to stabilize in the 5260-5270 range, you can decisively follow up with a long position, with a stop loss below 5240. The primary target is 5300, and after breaking through, it can continue to look towards the 5330-5350 range.

⚠️ Disclaimer: The above analysis is for reference only and does not constitute any investment advice. The market carries risks; invest cautiously.