#特朗普向欧洲实施关税措施 January 21st Gold Market Observation and Short-term Strategy

Good evening everyone, today gold continued to hit new highs with a strong rhythm. This rally didn't give much chance for a pullback or a breather; it's a persistent upward movement with a rising center of gravity—price climbing along the short-term moving averages, with highs being refreshed one after another, yet the pace remains moderate. As long as there are no sudden large-volume breakouts during pullbacks, and no consecutive long bearish candles breaking the upward structure, this rally still has room to continue.

From a fundamental perspective, global safe-haven demand is heating up. Bond market volatility is increasing, and investors are re-evaluating sovereign credit and interest rate trends; geopolitical and trade uncertainties keep recurring, even if not immediately erupting, enough to sustain the safe-haven appeal. Additionally, central banks around the world are continuously increasing their gold reserves as long-term assets, forming a passive capital inflow.

However, it's important to note that gold has already risen to a relatively high level, and the short-term cost-effectiveness of chasing the move has clearly decreased. This kind of slow upward trend often results in sideways consolidation after a rapid surge at some point, or a sudden quick retracement—essentially a shakeout to clear out those chasing the high retail investors.

Trading Strategy:
If the price pulls back to the 4858-4862 zone and can hold steady, consider a small long position, with the first target at 4885, and then look towards the 4900 resistance level.
If tonight there's a large breakout above 4890 and it stabilizes above that level, and the pullback does not break below 4880 support, then follow the trend and go long, with targets in the 4910-4920 range.

Disclaimer: The above is only market observation and does not constitute any investment advice. Trading involves risks; please proceed with caution. $XAU $BTC $ETH