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Gold Market Analysis 2026.03.23
Today's decline in gold is historically rare, but the daily line has not broken through the support zone shown in the chart, so my view remains unchanged.
The decline from 5417 will end very soon or may have already ended. Subsequently, if it strengthens, we can even assume the decline starting from 5599 has ended. Based on this, gold has two possible scenarios shown in the chart:
Blue: After the daily line fails to break through the support zone shown and ends the decline, it will run a rebound against the decline from 5417. If there is no strong upward momentum subsequently, it may continue to decline after the rebound ends, at which point it will break through the zone shown and continue finding a bottom.
Red: The daily line fails to break through the support zone shown and ends the entire decline starting from 5599. What follows is a new uptrend. Under this path, gold will continue the previous uptrend and reach new highs, with 6400 as a possible key level.
The trading journey has never been smooth sailing. Today's decline has wiped out my gold futures long positions. For accumulated gold and physical gold, I choose to continue holding and add positions opportunistically.
In trading markets, it's not about who makes the most in one move but who survives longer. Accumulating small progress leads to great distances. This is also why I consistently emphasize the strategy of "medium to long-term spot trading as the main approach, short-term futures as supplementary." Let us all strive together. #黄金创43年来最大单周跌幅 $XAUT