March 13, 2026 Spot Gold Evening Analysis

Morning Session: Cheng Jingsheng made precise predictions - the strong resistance level around 5130 caused gold prices to reverse downward, dropping to a low of 5061, which fully aligned with expectations. The morning overall showed a spike and pullback pattern, with bulls lacking strength above 5130, allowing bears to capitalize and execute a clear correction wave.

Market View: The market believes the Federal Reserve will delay rate cuts further, with the U.S. dollar and Treasury yields strengthening, making gold holdings unattractive and causing capital outflows. Middle East tensions provide some safe-haven support, but are offset by profit-taking at higher levels, leaning bearish in the short term. Evening focus is on U.S. PCE data - strong data will continue pressuring gold prices, while weak data could spark a rebound.

Technical Analysis: The 1-hour and 4-hour charts are showing weakness, with 5130 becoming the short-term top. Bounces near this level remain bearish territory. Support below at 5060-5050, with a breakdown targeting 5000; resistance above at 5100 and 5130 - don't consider bullish moves without holding above 5100.

Evening Strategy: Below 5100 lean bearish; light short positions on bounces to 5090-5100 with stops above 5115; pullback to 5050-5060 with stabilization can take light long positions with stops below 5030. Overall expect 5050-5100 range consolidation, wait for data release to assess breakout direction - avoid chasing orders and wait for key levels before entry.

The above is personal advice only, for reference purposes only, and does not constitute investment basis. Please refer to Cheng Jingsheng's specific layout for guidance! #XAU $XAU