Gold market analysis

Gold prices are expected to continue rebounding intraday. 27/4/2026 11:01 Finalized
The US and Iran have suspended negotiations. Iran has proposed to resume talks, suggesting that they first reach an agreement on reopening the Strait of Hormuz and lifting the maritime blockade, and postpone the nuclear talks. However, it is almost certain that Trump will not accept this, as it is a matter of cause and effect. Iran has been under blockade and international sanctions for decades precisely because of the nuclear issue. Now, it is obvious that the US blockade of the Gulf of Oman and the Arabian Gulf has prevented Iran from exporting oil and has caused losses of hundreds of billions of dollars. Iran knows that this cannot continue, so it has proposed to lift the blockade first. 

However, Trump has emphasized that Iran cannot possess nuclear weapons and will not back down on this stance. The US side is preparing to hold a meeting to discuss the current deadlock and possible measures in the next stage of the war. Therefore, it cannot be ruled out that the US military will launch another air strike against Iran to force it to reach a "nuclear-free agreement". This morning, the gold price first fell and then rebounded. The spot gold price opened lower with a gap, hitting a low of $4,672.5 before rebounding and recovering the falling gap, rising above $4,720. In contrast, the New York oil price opened higher with a gap and rose to $96.68, but then fell back to the $95 level. 

From the hourly chart, the gold price movement is in line with the prediction made last Friday that it would start a rebound wave at the beginning of this week. The spot gold price hit a low of $4,672.5 in the Asian market this morning and then formed a bullish candle with a higher low and higher high, breaking the pattern of each wave being lower than the previous one since April 17. Therefore, it is temporarily judged that the gold price will continue to rise within the day. The first resistance level is $4,773.91, followed by two important resistance levels at $4,804.69 and $4,810. The $4,710 and the low point in the Asian market this morning are expected to be the main support levels within the day. 

The above content is for reference only and does not constitute investment advice.