Gold Market Analysis: On March 24, international gold prices experienced a sharp "V-shaped" reversal. After opening under pressure and declining, prices plummeted to a new low of $4,098 per ounce before rebounding strongly to a high of $4,513. During the U.S. trading session, prices surged rapidly due to shifting geopolitical news, eventually settling near $4,380 with a long lower shadow candlestick on the daily chart. This indicates the end of the short-term unilateral plunge and the beginning of an oversold correction phase, corresponding to the C-4 wave in the Elliott Wave structure. Once the C-4 correction concludes, the final C-5 decline is expected to complete the C-wave downtrend.
Fundamental factors present a mixed picture. On the bearish side, the Federal Reserve's hawkish stance continues to exert pressure, with market expectations of only one interest rate cut delayed until the end of the year. High U.S. Treasury yields maintain elevated opportunity costs for holding gold, compounded by concentrated profit-taking from earlier gains, limiting the rebound potential. On the bullish side, unpredictable Middle East tensions persist, with the U.S. pausing strike plans while Iran denies dialogue, keeping safe-haven sentiment alive. Central bank purchases and bargain-hunting at lower levels provide short-term support. Key focuses for the day include fluctuations in U.S. Treasury yields and the latest geopolitical developments, as sudden news could directly disrupt the current consolidation pattern.
Technically, on the daily chart, gold prices have bottomed out after consecutive sharp declines, with the RSI indicator nearing oversold territory and showing signs of correction. However, the bearish alignment of the 5-day and 10-day moving averages continues to cap rebounds, indicating an overall weak trend with no clear reversal signals yet. On the 4-hour chart, gold has stabilized above the core support zone of $4,320–$4,350, forming a short-term rebound structure. The $4,450–$4,480 range represents a dense resistance band and the Fibonacci retracement level of the recent decline; a break above this zone is necessary to open further upside. A drop below the $4,320 support would signal a secondary bottoming phase, potentially testing support near $4,250. Overall, gold is expected to trade within a range today, with intensified volatility between bulls and bears. Trading strategies should focus on selling near resistance and buying near core support levels.
Trading Recommendations (For Reference Only): 1. Consider分批 buying on dips in the $4,300–$4,320 range, with a stop loss at $4,268, targeting $4,385–$4,400–$4,450. Short-selling opportunities will be determined intraday.
Silver Market Analysis: On March 23, international silver prices experienced a unilateral plunge, opening under pressure and declining rapidly, with losses widening to 10% at one point to a low of $60.97 per ounce. Prices then rebounded to a high of $70.76 before stabilizing during the U.S. session and settling near $69, forming a bullish hammer candlestick on the daily chart. This suggests that after extreme declines, silver has entered an oversold zone, with technical corrections expected today. On the daily chart, silver has broken below multiple moving average supports, with the 5-day and 10-day moving averages in a bearish alignment. The Bollinger Bands are expanding downward, and prices are trading near the lower band, indicating a continued weak trend.
On the 4-hour chart, silver has formed a minor rebound structure after halting declines, stabilizing above the key support zone of $65.5. This level is critical for bullish defense today. The $71–$70 range serves as a dense resistance area, representing both a阶段性 retracement level of the recent decline and a short-term moving average resistance. A break above this zone is needed to open further upside, potentially testing the $74.5 area. A drop below the $65.5 support would extend the weak trend, targeting the $62–$63 range.
Silver Trading Recommendations (For Reference Only): 1. Consider分批 buying near $66.5–$65.8, with a stop loss at $65.0, targeting $68.5–$69.5. A break above the $70 level could allow holding towards $71.5. Strict position control is advised; avoid chasing rallies.