Market participants are currently concerned that the Federal Reserve, in addition to raising interest rates at its September meeting, may further increase rates at its last two meetings this year. Therefore, the willingness to take risks and buy gold at high levels is likely to be suppressed, potentially leading to a significant pullback in gold prices after encountering resistance at some high levels.

Furthermore, investors are closely watching whether the yields on 10-year and 30-year US Treasury bonds will continue to rise in the short term. Rising long-term bond yields will fuel investor concerns about the correlation with persistently high US inflation. This development will also prompt investors to liquidate their positions in the gold market to avoid related risks, putting downward pressure on gold prices.

Gold prices may fluctuate between $4,373 and $4,451 in the short term. Pay close attention to potential entry opportunities at the higher end of this range. There is room for short-term pullbacks, and $4,471 can serve as an important price support level; appropriate risk management is essential.

Risk Warning: This article is for market analysis purposes only. Price ranges and levels mentioned are for market observation and do not constitute investment advice. Precious metal prices are highly volatile; please make independent and prudent decisions and manage your own risk.

Gold price chart (1 hour):

Ferris Kwok

Chief Analyst
Success Finance Group

Email: ferris.kwok@successfn.com