Enze: The Strait remains semi-open, gold market turbulence reignites, and the good show is yet to come

The Strait of Hormuz is currently semi-open, and tensions in the Middle East are flaring up again. The old Trump family continues to profit handsomely. The US-Iran conflict is far from over; deep-rooted disagreements over core interests persist. Even a brief ceasefire leaves fragile consensus, and this tug-of-war is destined to be prolonged.

The two-week temporary ceasefire previously did not ignite market euphoria. Whether it’s crude oil, US bonds, or gold, the trends are restrained and sentiment is rational. There’s no frantic chase for higher prices; funds are cautious and waiting for clearer signals.

Yesterday morning, I clearly warned: once the 4800 level is broken, gold prices are likely to retreat to around 4700. Today’s market movement has confirmed this judgment perfectly. Currently, gold is in a volatile upward pattern, not a one-sided squeeze; a phase of correction is normal in this market.

This also underscores what I repeatedly emphasize: waiting for a big rally before blindly jumping in will likely lead to being passively trapped. Especially with the CPI data due this Friday, market sentiment will become more cautious, and short-term fluctuations will dominate.

At this stage, there is no substantial bearish pressure on gold, but there are also no major bullish catalysts to trigger a rally. Market funds find it difficult to form a consensus, naturally preventing a soaring one-way trend. Overall, the market remains in a pattern of oscillating upward and repeatedly shaking out traders.

Note:
The above analysis is Enze’s personal view. Markets are ever-changing; this content is for reference only and does not constitute any investment advice!
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