On April 13, spot gold opened lower at $4714.77 per ounce (prices may vary across platforms due to differing opening times) and trended downward. This movement was influenced by the failure of US-Iran negotiations over the weekend and former President Trump's blockade of Iranian maritime traffic, which caused international crude oil to gap up significantly by 9.4%. Concurrently, the US Dollar Index also opened higher, dampening expectations for Federal Reserve interest rate cuts and putting pressure on gold prices. In the short term, gold is expected to face further corrective declines.

From a daily chart perspective, gold opened lower this week and traded below the 100-day moving average, indicating bearish dominance. A short-term decline towards the support level of the 144-day moving average around $4480 is anticipated, with a potential further test of the 200-day moving average support at $4290 or lower. However, these levels also present potential buying opportunities for a bullish outlook. On the upside, resistance near the 30-day and 60-day moving averages may offer chances for short positions. A breakout above the 60-day moving average resistance would signal strengthening bullish momentum, potentially driving prices towards the $5100 mark. Specific trading positions should be determined based on real-time market conditions.

Preliminary intraday trading level suggestions are for reference only; final entry and exit points should follow live account notifications: Consider buying gold on a pullback to the $4625-4630 range, with a stop loss at $4613, targeting $4690-4700. Hold if the level is breached. Consider a short position if gold rebounds to the $4748-4765 range, with a stop loss at $4773, targeting $4695-4700. Hold if the level is breached.