Hawkeye 4.22 Gold Outlook

Geopolitical logic reverses, gold prices face downward pressure

The current logic in the gold market has shifted; the Middle East geopolitical tensions not only failed to support gold prices but instead became a bearish factor. The escalation of conflict pushed oil prices sharply higher, intensifying inflation rebound expectations. The market is beginning to trade the logic of "central banks being forced to maintain high interest rates or even restart rate hikes," rendering traditional safe-haven logic ineffective, and geopolitical risks are now suppressing gold prices.

Funding also leans bearish: gold ETFs continue to reduce holdings, with long positions significantly declining, and speculative funds gradually shifting toward short positions; combined with heavy trapped positions at high levels, bullish momentum is insufficient for a rebound, and overall market sentiment is bearish.

A key time window is approaching: the US-Iran ceasefire agreement expires on April 22. If tensions ease, safe-haven sentiment may completely retreat, and gold prices are likely to accelerate downward.

In terms of operations, it is recommended to establish short positions in the 4760-4780 range, targeting 4710, 4680, and 4650. $BTC $ETH #Gate13周年现场直击 #布伦特原油持续走强 #Saylor发布比特币Tracker信息