Current gold price support level: $4770-4775

Federal Reserve Chairman Jerome Powell will speak today.

Gold prices are currently trading around the $4,800 level, which is an important psychological level and market performance is expected to be very volatile.

Ongoing tensions between the United States and Iran, coupled with Trump’s maritime blockade of Iran, provided continued support for safe-haven gold.

It’s enough to realize that as long as things don’t improve significantly, buying pressure on gold will remain relatively strong.

Key Events: Markets will be closely watching Powell’s recent comments on inflation, the impact of tariffs and the direction of interest rates.

Trading strategy:

Watch the $4,800 level.

1. As long as the gold price remains above US$4,800 (fluctuation range is US$4,775-4,815):

Purchase price: $4790-4800

Stop loss: $4770

Take profit: above $4850-4865-4900

Trading advice: It is recommended to adopt a falling buying strategy.

We await Powell’s speech for clearer instructions.

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