Gold market analysis

"Gold Price Expected to Break Record, Challenge $4,710" 20/1/2026 10:44 Completed 

After a gap-up yesterday, gold prices remained range-bound throughout the day. The high was still the opening high in Asia at $4,690.75, and no new record highs were set during the European and New York trading sessions. Today, the Asian session's low was exactly $4,660. The price then fluctuated upward, reaching a high of $4,676.15 before a sharp drop to a low of $4,666, after which it rebounded. 

Currently, the spot gold price is supported at $4,660 as the first level. If this level is breached on the hourly chart, the next level to watch is the gap low of $4,647.41 from yesterday. If this level is also breached on the hourly chart and cannot be re-established within a few hours, it can be judged that the sideways consolidation yesterday was a setup for a decline rather than an upward move. Therefore, I would like to remind investors again that the price movement on Monday often reflects factors not yet reflected in the price over the weekend, leading to a trend move. However, if there is no follow-through in the European session or even the New York session, after the relevant factors are digested, the price often reverses on Tuesday. 

At present, the gold price is still seen moving sideways within a range. The main strategy is to sell at the high and buy at the low. However, if the price breaks below the bottom of the sideways range (with 4660 as a reference) or above the top of the range (with 4680.34 as a reference), a new trend market may emerge. The top of last week at 4643.18 dollars is an important support level, as the price often tests the support at this level after breaking through the top. Currently, the gold price has once again challenged the top of the sideways range, and it is expected to break through upward within the day and challenge the next resistance at 4710 dollars. 

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