Market Analysis: On Monday, April 20, international gold prices opened significantly lower. As of 08:00, the price had fallen by over $93, touching a low near $4,737. This sharp reversal completely erased the strong performance from the previous Friday, primarily driven by a sudden deterioration in the Middle East situation over the weekend. The Strait of Hormuz was closed again, U.S. forces fired upon and seized an Iranian merchant ship in the Gulf of Oman, and Iran explicitly refused to participate in the second round of U.S.-Iran talks, vowing to respond and retaliate. This series of events not only elevated global energy risks but also intensified market concerns about inflation, significantly dampening expectations for Federal Reserve interest rate cuts. This led to a rapid rise in the U.S. dollar index to a one-week high, putting clear downward pressure on gold. Any new developments in the Middle East situation in the coming days will directly determine the direction of market risk sentiment. U.S. economic data and changes in Federal Reserve personnel will also be key variables influencing gold's trajectory. Investors need to remain highly vigilant and carefully navigate the opportunities presented by each fluctuation within this complex environment of intertwined geopolitical risks and policy uncertainty.

Gold Trend Analysis: Last week's gold market can be summarized in two words: wide-range fluctuations. On Monday, influenced by geopolitical tensions, gold prices opened lower and continued to decline, hitting a low of $4,640, which initially spread bearish sentiment. However, the dynamic nature of market competition was evident as the price did not continue its decline. Instead, it staged a strong rally towards the end of the week, reaching a weekly high of $4,890, forming a V-shaped reversal. The logic behind last week's movements was clear: geopolitical news acted as the catalyst, while technical support provided the foundation for the rebound. For traders, it is essential to understand the drivers from news events and, more importantly, to capture trading signals from technical analysis. Looking ahead to this week, gold is expected to maintain a strong, fluctuating pattern. A core trading range is identified between $4,650 and $4,900. As long as this range is not decisively broken above or below, a strong unilateral trend is unlikely to emerge. The recommended trading strategy is to "sell high and buy low within the range." From a technical indicator perspective, the daily chart is key for determining strength. As long as the price action remains firmly above the Bollinger Band midline, it indicates that bulls are controlling the market rhythm. The subsequent price movement will depend entirely on the daily closing prices: if there are consecutive bearish closes, it suggests weakening bullish momentum, and focus should then shift to defending the $4,650 support level, which is the critical line for the bulls. Conversely, consecutive bullish closes would indicate strengthening bullish force, and whether the $4,900 resistance level can be broken will determine the upside potential for the week. For those who find the daily chart timeframe too broad, the H4 chart offers a more intuitive view of the range: upper resistance lies at $4,860, and lower support is at $4,750. Within this smaller range, it is crucial to avoid frequently guessing the direction. As long as the range holds, focus on trading the fluctuations. The core trading principle is straightforward: within the range, avoid directional bias and implement a strategy of selling high and buying low. If the smaller range is broken, follow the momentum to target the larger range boundaries. A decisive break of the larger range should be met with a firm commitment to follow the new unilateral trend.

Silver Trend Analysis: Last week, a bullish view on silver was clearly expressed, anticipating a move from 73 to 80. The market performed as expected, with a strong rally towards the end of the week pushing the price to a high of 83. At this week's opening, influenced by news developments and the pullback in gold, silver also adjusted downwards to around 78.6. Silver is also exhibiting a strong, fluctuating trend. Although the overall broader direction is bullish, it is crucial to advise against chasing the price higher. Novice traders often incur losses by blindly buying into a rally during fluctuating uptrends. It is recommended to focus on the support level at 77 and patiently wait for the adjustment to complete, as this represents the most cost-effective entry opportunity. The suggestion is to wait for this week's adjustment phase to conclude before gradually building positions.