March 27, 2026, Spot Gold Morning Analysis

Yesterday, the 26th, spot gold prices fell sharply, showing a trend of rallying then reversing, with a continuous decline. In the early morning, gold prices remained volatile at high levels, but started to decline steadily in the afternoon, with the evening session seeing an even larger drop. London gold prices dipped to around 4351, significantly below the previous day's closing, with a daily decline of over 2%. Domestic gold prices also followed suit, breaking the previous high-level consolidation pattern, and the bullish momentum was clearly frustrated.

The core factor influencing the market remains the Federal Reserve's policy expectations. After the March FOMC meeting, market expectations for a rate cut within the year significantly cooled, from an originally anticipated three cuts down to one, with some market views suggesting further delay. The dollar and U.S. Treasury yields rose, directly pressuring gold prices. Additionally, the risk aversion sentiment caused by Middle East geopolitical conflicts has also diminished, reducing demand for gold as a safe haven and further dragging gold prices downward.

From a technical perspective, yesterday's price broke below the key support level of $4400. The daily moving averages formed a bearish alignment, with KDJ and MACD indicators turning downward simultaneously, confirming a short-term bearish trend. Currently, the initial support is around the 4300 level; if it continues to break, gold may further decline. The resistance level is at $4480, which is now a strong barrier, making it difficult for prices to recover quickly in the short term.

Overall, gold remains weak in the morning session, with a high probability of maintaining a sideways downward trend in the short term. Caution is advised for long positions; pay attention to the breakthrough of key support and resistance levels. It is recommended to lightly accumulate short positions on rebounds near 4450-4480, with targets at 4430, 4400, and 4350. A break below could lead to further declines toward the 4300 level, with a stop-loss around 4500.

This is only a personal suggestion for reference and does not constitute investment advice. Please follow the layout of Cheng Jingsheng Shipan for specific strategies! #XAU $XAU