Gold Market Trend Analysis On February 6, the global gold market experienced significant selling pressure on Thursday, with gold prices declining and silver prices plunging nearly 14%. This was primarily driven by a stronger US dollar and rising risk aversion across financial markets.

The recent sharp volatility in precious metals following record highs represents a normal adjustment, with high volatility expected to persist in the short term. Geopolitically, developments such as the Russia-Ukraine prisoner exchange agreement, high-level communication between China and the US, and upcoming US-Iran talks are drawing market attention.

From a technical perspective, both daily and hourly charts indicate that the 5-day and 20-day moving averages have been breached again, suggesting that the short-term rebound in gold has concluded. The market may now enter a medium-term consolidation phase, with a bias toward further corrective adjustments.

On the hourly chart, moving averages have crossed downward, indicating potential continued near-term declines. Resistance is expected near the 4800–4830 range, with major resistance around the 4980–5000 trendline and the upper boundary of the trading range. Support is initially seen near the lower boundary around 4650, though a break below this level is anticipated. Further downside targets may extend toward 4600 or even 4400.

In terms of strategy, the primary outlook for gold remains bearish, but high volatility continues to pose challenges for trading. Therefore, it is advisable to wait for favorable entry points. Specific trading levels will be provided in real-time analysis. Those interested in gold trading but lacking direction or experiencing unsatisfactory results may consult with Liu Fuyun for guidance.