#Gate广场四月发帖挑战 After the Asian market opened on Monday, gold prices plummeted, hitting the intraday low and the lowest level since April 7th.

Failure in negotiations would lead to rising crude oil prices, increasing inflation risks, and also raising the possibility of rate hikes, which would drive the dollar higher. So, the appreciation of the dollar and renewed inflation concerns are the main reasons for the sharp drop in gold prices at the start of the Asian session. After the weekend breakdown of US-Iran peace talks, the market is questioning the outlook for rate cuts.
However, later, news that the US and Iran might hold a second round of talks within a few days, along with comments from US President Trump and Vice President Pence, caused the dollar to retreat and gold prices to rebound sharply.

US President Trump stated that Vice President Pence performed well in handling Iran issues and has received a call from Iran — the Iranian side is "eager" to reach an agreement.
Meanwhile, the US has imposed a blockade in the Strait of Hormuz, which began at 10 a.m. Eastern Time on Monday, aiming to intercept ships flying the Iranian flag and other ships leaving Iranian ports.

Despite the US beginning a maritime blockade of the Strait of Hormuz, President Trump said that Iranian officials have expressed a "desire to reach an agreement" to his government.
Additionally, Iranian President Ebrahim Raisi stated that Tehran is prepared to continue peace negotiations within the framework of international law.
According to the Financial Times, Trump said that Iranian negotiators have contacted Washington and are eager to reach an agreement. Trump said outside the White House, "I can tell you, they called us, and they really want to reach an agreement."
The second round of US-Iran talks could take place within days! This has driven gold prices higher in early trading!

In recent weeks, as the market increasingly focuses on slowing economic growth, this has somewhat offset the risk of rising inflation, and gold has recovered some of its losses.

Gold prices breaking through the key psychological resistance level of 4750 will open space for further upward movement, with the next resistance at 4800. If it can break this level, gold may target the next significant zone — the high of 4857 set on April 8th, followed by resistance at 4897.
Conversely, if gold falls back below 4700, market focus will shift to the 4668-4655 range; if this area is broken, the next downside target will be around 4600.

Downward buy zones: 4730, 4705, 4657, 30, 20, 4555, 4522, with stop-loss orders for bottom fishing.
From: 4700, 4650, 4615, 4598, 4546, 4480, with a 500-point stop-loss, considering holding until 5000 exit.
Rebound upward, start chasing after breaking 4775, further upward targeting 4800, chase on breakout.
Breakthroughs at 5000, 4900, 4850, with large volume chasing upward.
Strict stop-loss on falling orders, cut losses promptly to avoid losses!
Above: 4775, 4806, 4850 with stop-loss entries; once broken, exit promptly and chase the rebound.
Below: 4750, 40, 30, 20, 4690, 80, 70, 60, 50, 40, 30, 20, 10, break and chase downward, with stop-loss, be cautious of sudden rebounds.