GOLD: Breaking through the Key Resistance Level of $4,600!
$Gold - main 2606(GCmain)$On Monday (March 30), gold rose slightly for the second consecutive trading day, gaining about 0.36% to close near $4,510 per ounce, after briefly touching $4,580 during the session; US gold futures also rose 0.7%, settling at $4,557.50. However, despite a slight recovery in short-term safe-haven demand, gold has fallen more than 14% so far in March, poised to record its worst monthly performance since the 2008 financial crisis. Behind this unusual trend lies a complex interplay of escalating conflict in the Middle East and macroeconomic pressures.
The war has pushed up oil prices and exacerbated inflation concerns, while the Federal Reserve's cautious stance has led to a sharp adjustment in market expectations regarding the interest rate path. Investors are generally focused on whether the short-term rebound in gold can be sustained and whether it will resume its upward trend in the long term. The US February JOLTs job openings data will be released today, which investors should pay attention to. On Tuesday (March 31), gold suddenly surged in early Asian trading, successfully breaking through the key resistance level of $4,600!
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