March 4, 2026 Spot Gold Midday Analysis

Asian session saw gold bottoming out and rebounding. After touching a low of 5105, it stabilized and bounced back, currently fluctuating around 5160. This is a technical correction after yesterday's sharp decline. The overall weak pattern remains unchanged, and there are no signs of a reversal for now.

The Middle East situation has eased somewhat, risk aversion has cooled down; expectations of a Fed rate cut have been postponed, leading to a rise in the US dollar and US Treasury yields, which continues to suppress gold prices. Tonight, US ADP employment data will be released, which could trigger short-term volatility. Overall, the news sentiment remains bearish.

The daily chart closed with a large bearish candle yesterday, breaking the short-term bullish trend and entering a correction phase. Short-term support is around $5100; a break below this level is likely to test the 5000 mark again. Resistance is at $5200-$5250, and a rebound is unlikely to break through directly. Hourly indicators are weak; the early morning rebound is just oversold correction, not suitable for bottom fishing.

Trading strategy: In the short term, focus on high selling near 5150-5220 and buying low within this range. If broken, follow the trend and add positions accordingly. Strictly set stop-losses, avoid blindly chasing longs. It is recommended to lightly buy on dips around 5150-5130, targeting near 5180-5200-5220.

The above is only personal advice, for reference only, not investment advice. Please follow Cheng Jingsheng's layout for specific guidance!!$XAU ‌#美伊局势影响 #XAU