March 17, 2026 Spot Gold Evening Analysis

Today's Asian session saw gold overall trend down to bottom and then rebound, with pullbacks after rises, oscillating around the $5000 level throughout the session. After an early open lower, it first tested back toward $4994, then rebounded slightly to touch a high of $5044, followed by a pullback in the afternoon, closing near the $5000 mark with limited volatility and neither bulls nor bears gaining advantage.

The market is waiting for Thursday's Fed interest rate decision meeting. General consensus expects no rate cut in March with higher rates sustained longer, pushing the dollar strength and suppressing gold prices; Middle East situation and central bank gold purchases provide support, so it won't fall deep or rise strongly, with funds on the sidelines watching.

$5000 is the key support level; holding it means oscillation continues; upside 5030-5040 is resistance, if rebound can't break through it suggests weakness. Hourly chart shows rebound with declining volume and decline with expanding volume, short-term still oscillating with bearish bias, only with slight recovery from oversold indicators, no clear directional trend formed.

Asian session summary: narrow range oscillation, strong wait-and-see sentiment, the gain or loss of $5000 level is key, awaiting US session data and meeting guidance to determine direction.

Suggestion: On pullback to around 4980-5000, build long positions in batches, targeting around 5030-5050, with stop loss below 4970;

The above is only personal suggestion for reference only, not investment basis. Please refer to Cheng Jingsheng Shiping's specific layout for details! $XAU #XAU