On the morning of March 13th, the gold market continued its near-term pressure and mid-term bullish trend, with clear differentiation in the long/short logic:

In the near term, market expectations for Fed rate cuts continue to be pushed back, the US dollar index remains strong, and US Treasury yields stay at elevated levels, directly raising gold holding costs and putting obvious pressure on gold prices; meanwhile, geopolitical risk-off sentiment has eased somewhat, the risk premium that previously drove up gold prices is gradually receding, combined with some profit-taking, driving gold prices to oscillate and pullback in the short term, with near-term trends showing weak consolidation.

In the medium to long-term dimension, global inflation resilience persists, geopolitical risks are not completely eliminated, central bank gold-buying trends remain unchanged, and gold's value as an inflation hedge and risk-off allocation remains prominent, providing bottom support for gold prices, with medium-term trends still leaning optimistic.

Overall trading strategy: At 5075-5085, can establish long positions, target 5100-5110, stop loss 5068$XAU $XAG