3/25 Gold Trading Insight: Gold Bottoming at Low Levels with Rebound Target at 4600

In recent days, after the previous sharp decline, international gold has stopped weakening and has begun a gradual rebound. With gold prices continuing to rise, they are approaching the key level of 4600 USD. The bottoming pattern at low levels is becoming increasingly clear, as buying interest at lower prices continues to increase, and the short-term rebound trend is becoming more distinct. Today, gold prices are likely to consolidate higher, with focus on whether the 4600 USD level can be broken through.

From a news perspective, the hawkish Fed rate hike expectations that have been suppressing gold prices are gradually weakening. The market is now anticipating potential rate cuts in the future. After rising, the US dollar and US Treasury yields have begun to decline, significantly reducing upward pressure on gold. Combined with ongoing instability in the Middle East, safe-haven funds continue to flow into the gold market. Central banks globally are also consistently buying gold, providing solid fundamental support for prices in the long term. This bottoming rebound has sufficient support, making another sharp crash unlikely in the short term.

From a technical perspective, gold prices have completed their bottoming process in the 4300-4350 USD range. The 4-hour moving averages show an upward trend with strong rebound momentum. A strong short-term support level has formed near 4420 USD, with multiple pullbacks quickly recovering, leaving very little room for further decline. Currently, gold prices are steadily approaching 4600 USD—a level that represents a previous breakout point and a resistance level of concern. Once broken, prices can continue rising. Even if facing short-term pressure, it would only be a correction within the rebound process and would not alter the overall uptrend.

Looking at today's price action, gold overall shows consolidation with a bias to the upside. There is a high probability of testing resistance at 4600-4650 USD, with the trend dominated by pullback accumulation and steady gains. The support below is seen at 4420-4450 USD; any pullback and stabilization there would be a good entry opportunity. Above, watch first for 4550 USD; breaking through would allow targets up to 4650 USD.

For operations, it is recommended to focus on buying at low levels and trading with the trend. Avoid countertrend short selling arbitrarily, and strictly set stop-losses to control risk. With gold's bottoming pattern now clear and a rebound trend established, seize the opportunity to position at low levels and wait for gold prices to continue rising and break through resistance.