Global markets are closely monitoring developments in the Russia-Ukraine situation, and investors remain generally cautious until the situation becomes clearer. The US dollar index, after a brief decline due to data, rebounded and fluctuated intraday. Gold prices opened lower today, retreating to support near 3323 before quickly rebounding and briefly rising to around 3358 before the European session opened, before falling back under pressure there. Trading strategies should focus on the support area around 3335-3320. If gold prices stabilize there, consider going long. In the short term, the market has yet to establish a clear unilateral trend, with both the US dollar and gold trading in a volatile pattern. The strategy should maintain a range-bound approach, patiently awaiting reactions near key levels and avoiding aggressive chasing orders before a breakout. This volatile pattern is expected to persist until there is clearer progress on major risk events such as the Russia-Ukraine situation. Be mindful of the impact of unexpected events on market sentiment.
Gold Trading Recommendation: Go long near 3335-3320, with a target of 3350-3360.
