Gao Bo Jing: Where Gold Falls Today - Gold Closing Operation Strategy

Gold News —

On March 20, the benchmark 10-year U.S. Treasury yield closed at 4.253%, while the sensitive 2-year U.S. Treasury yield closed at 3.801%. Spot gold continued to decline during the European trading session, dropping as much as 7% intraday to a low of $4,502.57, a decline of over $350 for the day, before partially recovering. It ultimately closed down 3.49% at $4,650.33 per ounce. Spot silver briefly rebounded near $65 during the session but closed down 3.33% at $72.82 per ounce. Oil prices remained volatile amid expectations that the U.S. might lift sanctions on Iranian oil on tankers stranded at sea, and Israel’s announcement to “pause” airstrikes on Iranian energy facilities. WTI crude fluctuated between $95 and $100, ending the day down 4.59% at $95.00 per barrel. Brent crude briefly hit a daily high of $113.65 during the European session but gave back all gains to turn lower, closing down 2.77% at $104.23 per barrel.

Latest Gold Market Trends —

Yesterday, gold opened at $4,829.5 per ounce. It initially surged to a daily high of $4,867.8 before falling sharply, with the daily low reaching $4,500.2. After an oversold rebound, it closed at $4,657.4. The daily chart shows a long lower shadow on a large bearish candle, indicating continued pressure. Overall, after breaking down from high levels, gold shows signs of acceleration. Following a slight rebound today, further declines are likely. Trading strategy suggests shorting on rebounds with minor long positions as support. Resistance levels are at $4,726–$4,785, and support is at $4,500–$4,400.

Latest Crude Oil Market Trends —

Yesterday, U.S. crude opened at $99.06 per barrel, then declined to $94.83 before sharply rising to a daily high of $101.01. It then fell back strongly, with the daily low at $92.43, and finally closed at $95.1. The daily chart shows a long lower shadow on a large bearish candle, indicating ongoing volatility. Overall, crude oil remains in a narrow range with support holding, suggesting potential for further rebounds. A break below support would test the next level. Trading strategy favors shorting at highs and buying at lows, with resistance at $95.0–$98.0 and support at $91.3–$81.7.

Latest Nasdaq Trends —

Yesterday, the Nasdaq opened at $24,389.1. It initially rose to a daily high of $24,502 before falling sharply to a low of $24,099.23. It then recovered slightly, closing at $24,398.09. The daily candle shows a long lower shadow on a star-shaped pattern, indicating pressure. Overall, after high-level resistance, there is a possibility of continued decline. Trading strategy suggests shorting on rebounds with minor long positions. Resistance is at $24,500–$24,600, support at $24,190–$24,000.

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Editor: Chen Ping