YiChen: Brief pullback is a good time to enter! Global central banks buying gold to shore up markets, gold bull market far from over!

From a technical perspective, although the price briefly broke below the Bollinger Band midline, it still operates within the medium-term uptrend channel, with the lower band at 5094.78 USD providing strong support; the MACD death cross represents short-term sentiment release, with green columns not yet showing significant volume expansion, bearish momentum is limited. The 4-hour pullback has not destroyed the overall bullish structure, representing accumulation and washout during the uptrend.

News and international situation continue to support gold's core logic: although the Middle East geopolitical conflict has temporarily eased, regional uncertainty remains, safe-haven demand has not completely receded, and any escalation will quickly activate gold buying; meanwhile, US inflation data still shows stickiness, market expectations for Fed rate cuts within the year have not reversed, and dollar strength will only create short-term pressure. Additionally, the long-term allocation demand from continuous global central bank gold purchases provides solid support for the gold floor.

Suggestions:
Buy on dips near 5100-5120 in batches, targets at 5200, 5250

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operation based on this is at your own risk. $XAU