March 13, 2026 Spot Gold Morning Analysis

Yesterday spot gold experienced daytime volatility, with the US session suddenly pulling back sharply, plummeting from around 5180 all the way down to around 5050, with a single-day drop exceeding $100, and the daily line closing with a large bearish candle, with long positions at higher levels completely beaten down.

News-wise, it's straightforward: First, US CPI data came in stronger than expected, causing the market to believe the Fed will delay rate cuts, with the US dollar and Treasury yields rising and putting pressure on gold; Second, gold prices had risen excessively in the prior period with profit-taking concentrated, combined with cooling risk-off sentiment in the Middle East, creating dual pressure for selling.

The daily line has broken below the 5-day and 10-day moving averages, with MACD showing a bearish crossover pointing downward, with bears dominating; the 4-hour line shows consecutive bearish candles with the Bollinger Bands opening downward, indicating clear short-term weakness. Key support below is at 5050-5000 USD, with further declines if broken; resistance above is around 5130-5150 USD, where bounces will likely encounter resistance.

This morning, gold prices are oscillating around 5090 with no strong rebound emerging, indicating the bearish move is not yet complete. Operationally, avoid blindly buying the dip; selling on rallies is more prudent, with consideration for long positions only after stabilization.

Today's key focus is whether the 5050 support can hold. If it holds, there will be a minor rebound; if broken through, watch the 5000 level. It's suggested that on bounces near the 5120-5140 range, light positions can be taken, targeting toward the 5050-5020 range!!

The above is merely personal advice for reference only, not constituting investment basis. Please refer to Jing Jingsheng's specific layout for details!!#XAU $XAU