Gold Market Analysis 2026.03.23

Today's decline in gold is rare in history, but the daily chart has not broken through the support zone shown, so I remain confident in my previous outlook.

The decline starting from 5417 will end quickly or may have already ended. If strength emerges afterward, it is even possible to assume that the decline beginning at 5599 has concluded. Based on this, there are two possible scenarios for gold shown in the chart:

Blue: After the daily chart fails to break below the support zone shown and ends the decline, it will experience a rebound against the decline from 5417. If no strong upward momentum follows, it may continue to decline after the rebound ends, breaking through the support zone and continuing to seek a bottom.

Red: The daily chart does not break below the support zone shown, ending all declines from 5599, and then begins a new upward trend. Under this scenario, gold will continue its previous rally and reach new highs, with 6400 being a potential key target.

The path of trading has never been smooth. Today's decline caused my long gold futures positions to be stopped out. I choose to continue holding my accumulated gold and physical gold, and look for opportunities to add to my positions. The market is not about who makes the most in a single move but about who can endure longer. Small steps lead to great distances—this is why I always emphasize the strategy of "medium to long-term spot trading as the main approach, with short-term futures as a supplement." Let us all keep this in mind. #黄金创43年来最大单周跌幅 $XAUT