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Recently, there have been some interesting changes in gold prices. The 30-minute trading volume suddenly surged by 79.6%, this kind of volume anomaly often indicates that market participants are becoming more active, which may signal that the trend is about to start.
Currently, the gold quote is at 4860.49 USDT. From a technical perspective, the key support on the 1-hour basis is around 4835.39, only 0.57% away from the current price, which is quite close. There is also a deeper support zone below at 4661.54 to 4669.
From a trading standpoint, since the volume has significantly increased and the price is hovering near a critical support level, many traders might consider placing long orders around the 4835.39 line. After all, a sharp increase in trading volume usually indicates that a certain direction is about to be established, so paying attention to the subsequent movement of gold becomes very important.