黄力晨:黄金短线回调修正 仍有再次冲高机会

Core Viewpoint - The geopolitical tensions in the Middle East, particularly the risk of military conflict between the US and Iran, have heightened market risk aversion, leading to a surge in gold prices, which reached a new high for February [1][5]. Price Movements - On February 25, gold prices initially surged to $5249, marking a new high for the month, but faced resistance and subsequently dropped nearly $80 to stabilize at $5145. After a brief rebound to $5191, gold fell again to $5092 before closing at $5173, indicating a high-level fluctuation [1][5]. Market Influences - The recent price action was influenced by several factors: profit-taking by investors after significant gains, the US Supreme Court's rejection of comprehensive tariffs leading to a temporary reduction in market uncertainty, and the lack of immediate military action against Iran, which shifted market focus to upcoming US-Iran negotiations [2][6]. Technical Analysis - The daily chart indicates that gold has encountered resistance after a recent high, with key support levels at $5090 (5-day moving average) and $5020 (Bollinger Band middle track). Resistance levels are noted at $5200 and $5260 [3][7]. The technical indicators suggest a potential need for adjustment after a series of gains, but the overall long-term outlook remains bullish due to expectations of interest rate cuts, geopolitical tensions, and central bank gold purchases [2][6][7].