March 17, 2026 Spot Gold Evening Analysis

Today's Asian session saw gold overall explore bottoms and rebound, with pullbacks from highs, oscillating around the $5000 level throughout. After a lower opening in early trading, it first retraced to around $4994, then rebounded modestly, reaching a high of $5044, pulling back again in the afternoon, closing near the $5000 level with minor fluctuations. Neither bulls nor bears gained the upper hand.

Markets are awaiting Thursday's Federal Reserve interest rate decision meeting. The consensus expectation is no rate cut in March with higher rates persisting longer, with a stronger dollar pressuring gold prices. The Middle East situation and central bank gold purchases provide support at the bottom, so it can't fall deeply or rally strongly. Funds are all waiting on the sidelines.

$5000 is key support; if it holds, expect oscillations. Resistance above is at $5030-$5040; if rebounds can't break through, the trend tilts bearish. On the hourly chart, rebounds show declining volume while declines show expanding volume. Short-term still favors oscillating and weak trends, though oversold indicators show small recoveries without establishing a unidirectional move.

Asian Session Summary: Narrow range oscillation with cautious sentiment. The $5000 level is key to determining direction. Await US session data and meeting guidance for further directional confirmation.

Suggestion: Accept long positions on dips to $4980-$5000 zone in batches, targeting around $5030-$5050, with stops below $4970.

The above is merely personal advice for reference only and does not constitute an investment basis. Specific positions should follow Cheng Jingsheng Shipan's layout! $XAU ‌#XAU