Spot Gold Analysis for the Evening of April 6, 2026

Today, during the Asian session, gold initially moved lower before rebounding. The price dipped to around 4600 before stabilizing and bouncing back, with an intraday rally of up to 100 points. Both the 1-hour and 4-hour charts remain firmly within an upward channel. Short-term support levels are closely watched at 4650 and 4665.

During the European session, gold prices surged to touch 4706 but faced resistance and pulled back. Currently, prices are fluctuating around 4690 in a narrow range. Without any major unexpected news, it’s unlikely the market will experience a deep oversold correction. Tonight, focus on the release of the ISM Non-Manufacturing PMI and the March Global Supply Chain Pressure Index, which may trigger a short-term breakout.

Overall, the bullish sentiment remains unchanged, but the upward momentum has weakened slightly, and prices have not effectively stabilized above the 4700 level. A slight pullback is still expected. However, as long as the key support levels below hold firm, the short-term bullish structure remains intact. Once stabilized, the market could target 4700 and 4730.

This is only a personal suggestion for reference and does not constitute investment advice. Please follow the layout of Cheng Jingsheng Shipan for specific guidance! $XAU ‌#XAU