April 9, 2026 Spot Gold Morning Analysis

A new day, a new beginning.

Based on yesterday’s spot gold price action, the pullback demand from last night has not been fully released, but the overall bullish structure remains unchanged. At present, gold prices are holding at high levels with narrow-range consolidation. There is no major news impact in the morning; the price action mainly reacts to fluctuations in the US dollar and US Treasury yields.

On the daily chart, a bearish candle with a long upper shadow formed; the moving averages on the 1-hour and 4-hour charts are aligned in a bearish order. The RSI is in the oversold zone, indicating that there is likely a short-term rebound and correction demand. In the morning, the key short-term support to watch is at 4700, with stronger support at 4670. If these two supports are broken, the market structure may turn, with the potential for further downside testing toward the 4600 level.

Short-term resistance is at 4740 above, with strong resistance at 4780. If there is no major news catalyst to drive it, gold is unlikely to see a big rally.

In terms of trading, it is recommended to base operations on the two important supports at 4700 and 4660. After price stabilizes, gradually build long positions, with targets at 4720 and 4750 in sequence, and keep defense at the 4650 level.

The above is only personal advice, for reference only, and does not constitute investment guidance. For the specifics, please follow Cheng Jingsheng Shipan’s layout!!$XAU ‌#XAU