Yichen: Brief Pullback is a Great Entry Opportunity! Global Central Banks Buying Gold Supports the Market, the Gold Bull Market is Far From Over!

From a technical perspective, although prices briefly broke below the Bollinger Band mid-line, they remain within the mid-term uptrend channel, with the lower band at $5094.78 providing strong support; the MACD death cross represents short-term sentiment release, with green bars not showing significant volume expansion, indicating limited downside momentum. The 4-hour pullback has not destroyed the overall bullish structure, representing consolidation and shakeout during the rally.

News and international geopolitical situation continue to support gold's core logic: although Middle East geopolitical tensions have temporarily eased, regional uncertainty remains, and safe-haven demand has not fully receded. Once the situation escalates, it will quickly activate gold buying; meanwhile, US inflation data remains sticky, and market expectations for Fed rate cuts within the year have not reversed, with dollar strength providing only a short-term suppressive effect. Additionally, the continuous gold purchasing by global central banks as long-term allocation demand provides solid bottom support for gold prices.

Recommendations:
Buy on dips around 5100-5120 in batches, targeting 5200, 5250

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk. $XAU