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4.13 Spot Gold (XAU/USD) Morning Outlook
The gold price dropped sharply in the early session, with a rapid decline of over 100 points in the short term, strongly breaking through the key level of 4700, indicating a bearish trend.
Due to the lack of agreement in the US-Iran negotiations and Trump's decision to block Iran's maritime traffic, gold opened lower and declined in the morning. Based on weekend analysis, the short-term market is likely to enter a correction phase.
Trading strategy: Focus on selling high within the day, avoid blindly bottom-fishing at low levels, and do not chase longs. Wait for a rebound to face resistance before considering entry.
Operational suggestion: Short near 4710-4720, target 4650, 4600.