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Yichen: The world's oil valve is hanging in the air! The gold safe-haven frenzy is coming, and it's the right time to buy the dip at 5100!
From a technical perspective, the price has stabilized above the lower band of the Bollinger Bands at 5051.17. After the MACD indicator experienced a bullish crossover, the red histogram has been gradually expanding. The DIFF and DEA lines are turning upward, indicating that short-term rebound momentum is building. The 5100 support level has become an important line of defense for the bulls.
On the news front, escalating conflicts in Iran have boosted global risk aversion sentiment. The risk in the Strait of Hormuz, known as the "world's oil valve," is intensifying, and funds continue to flow into gold safe-haven assets. Meanwhile, expectations of a Federal Reserve rate cut remain, and the mid-term weakening trend of the US dollar persists, providing long-term support for gold prices.
Recommendations:
Buy in batches around 5110-5130 on pullbacks, with targets of 5200 and 5250.
Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk.$XAU