April 10th Muyu Gold Midday Market Analysis



Yesterday, gold opened at 4719.6 in the morning session, rebounded after testing support at 4697.5, and stabilized. During the U.S. session, it surged to 4801.5 before encountering resistance and pulling back. The daily chart ultimately closed with a long upper shadow, indicating that the bullish momentum has slowed after a rapid rise.

Currently, market focus is entirely on the U.S. March CPI data to be released at 20:30 tonight. This data will directly determine the short-term direction of gold. Before the data release, market sentiment remains cautious, and the overall pattern is maintaining a range-bound consolidation.

Key Support and Resistance
Currently, gold prices are trading within the 4700-4800 range:
- Resistance levels: 4780-4800 (strong resistance above)
- Support levels: 4750, 4730
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