Gold Market Daily: April 7th Gold Price Analysis and Strategies

LootboxPhobia · 2026-04-07T14:45:49+00:00

Yesterday, spot gold showed a rally followed by a pullback, forming a doji star, indicating intense competition between bulls and bears in the 4600-4700 range. The Middle East situation has boosted risk aversion sentiment, with Iran refusing to cease fire, increasing market tension; at the same time, expectations of Federal Reserve rate hikes have suppressed gold prices. Today's key resistance is predicted at 4650-4700, with support at 4600. It is recommended to control position sizes and set stop-losses.

LootboxPhobia

2026-04-07 14:45:49

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【Yesterday’s Gold Recap】
Yesterday, spot gold showed a rally that turned back, with intraday strength followed by a pullback. On the daily chart, it closed as a cross star (doji) with longer upper and lower shadows, indicating that bulls and bears are fiercely competing within the 4600-4700 range.
The main reasons are as follows:

At one point, the situation in the Middle East boosted risk-aversion sentiment. Iran rejected the U.S. interim ceasefire request and conveyed a ten-point proposal through a mediator nation (requiring a permanent end to the war and lifting sanctions). Iran’s newly appointed supreme leader’s adviser warned that action could be taken against the Strait of Mandeb in the Red Sea, heightening concerns about potential disruptions to global trade routes.
Trump set Tuesday 8:00 PM U.S. Eastern Time (Wednesday 8:00 AM Beijing time) as the final deadline, and market tension rose.
Rate-hike expectations from the Federal Reserve suppressed the upside. It shows a typical dual logic of “safe-haven demand vs. interest-rate pressure.”

【Today’s Price Action Forecast】
Key resistance and support levels today
Resistance above: 4650-4700 USD The 4-hour falling trendline and short-cycle moving average are in the pressure zone.
Support below: 4600 USD The round-number level

Based on technical formations,

Daily K-line: Yesterday’s doji shows bulls and bears are temporarily balanced; today’s close will determine the near-term direction.
4H K-line: The recent highs gradually move lower, forming a short-term downward trendline that suppresses price. The price has repeatedly rebounded near the trendline but has not broken through. The short-cycle moving average system has turned bearish, strengthening the downside signal.

Today’s trade ideas:
Go long: Buy around 4600, stop loss at 4580, target 4650-4700.
Go short: Sell around 4700, stop loss at 4720, target 4650-4620.
From tonight to early tomorrow morning is a critical window before Trump’s final deadline. If Iran compromises or the situation escalates, gold may see sharp volatility. It’s recommended to control position size and set stop losses strictly.

Personal views are for reference only; risk is your own. Feel free to exchange ideas. q: 3145477136

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