Zong Xiaoli: Gold prices surged and then retreated again. What is happening in the market?

Yesterday’s market trend, I believe everyone saw it. Gold surged rapidly in the early trading session, with great strength and momentum, giving a strong impression. This led many to think that gold would rise again and that they should buy immediately. However, interestingly, after entering the European and American trading sessions, gold prices gradually declined, completely losing the enthusiasm seen earlier, which made many feel helpless. Many people couldn’t understand why gold was so weak; what was the reason behind this?

The reason is simple: no one wants to take the risk. No one is willing to keep buying gold, so the price can’t be pushed higher. Instead, many are continuously exiting, causing the price to fall back, resulting in a strange pattern of a sharp rise followed by a slow decline. This situation continued until noon today, when the market finally couldn’t hold back anymore. A larger force suddenly withdrew, causing gold prices to plummet sharply, which startled many.

From this movement, it’s clear that the market’s confidence in gold’s rise is waning. More and more people are looking to exit, which is obviously unfavorable for gold. Therefore, the continued decline in gold prices is understandable.

So, what’s next for gold? I believe it’s possible that the market will continue to gradually decline until it finds a reasonable support level. Only then will the downward trend pause. So, tonight’s trading session, everyone should carefully observe where the gold price might fall to and what price level could serve as effective support. If support appears, consider short-term buying opportunities. But remember not to be greedy—take a small profit and be cautious in everything.