#贵金属黄金与白银刷新历史高位 January 21st Gold Evening Price Action Observation and Trading Ideas

Good evening everyone🌃, I am Jingwen. Gold hit a new high again today, and the pace is so rapid it's a bit unbelievable. Honestly, I can't see where the top is for now. Patience in waiting for a pullback opportunity is more important than anything.

Looking at the technicals, gold is currently showing a very strong trend—no chance to catch your breath, just a direct shift in the focus upward. Short-term moving averages are firmly supporting the base, with highs breaking one after another, yet the rhythm remains orderly. As long as there’s no volume surge breaking through on dips, and no consecutive large bearish candles destroying the upward channel, this rally still has a long way to go.

From a fundamental perspective, there are quite a few factors. The global bond markets have been volatile recently, prompting investors to consider sovereign debt and interest rate issues; geopolitical risks and trade frictions keep surfacing one after another. Although these haven't escalated directly, they are enough to keep market safe-haven demand high. Plus, central banks around the world are continuously increasing their gold holdings, which means gold is passively absorbing these inflows.

That said, gold is already at a relatively high level, and the short-term gains from chasing the rally are no longer as attractive. This slow and steady upward trend often results in two scenarios: a sharp rise followed by sideways consolidation or a sudden retracement, essentially washing out those chasing the high.

Trading ideas:
- If the price pulls back to find support around 4858-4862, consider a small long position to test the waters, with the first target at 4885. If the trend continues smoothly, look for 4900.
- If during the evening session, the price breaks above 4890 with volume and stabilizes, and the pullback does not break below 4880, then go long with targets at 4910-4920.

The above is just my personal analysis and does not constitute any investment advice. The market always carries risks; please think carefully before entering. $XAU $BTC $ETH