Gold has no high. Latest Analysis.

Since the beginning of the year, driven by global trade tensions, market doubts about the Federal Reserve's independence and policy path, and ongoing concerns about the health of the US fiscal system, international gold prices have surged over 50%, breaking through the $4,000 per ounce mark for the first time in history.

Delays in US economic data due to the risk of a government shutdown have further exacerbated market uncertainty, adding fuel to gold's surging rally.

Technically, gold prices maintain a stable bullish pattern on the daily chart. Although showing signs of fatigue after consecutive surges, no top has been signaled. The 1-hour chart shows that gold prices are moving higher amidst volatility. Any pullback will likely find buying support at key support levels, maintaining the short-term upward trend.

The 4-hour chart shows that although the RSI indicator has entered overbought territory, suggesting the risk of a pullback, prices remain firmly above all moving averages. The bullish alignment of the moving averages provides solid technical support for the upside.

Looking back at Tuesday's performance, the market has demonstrated strong resilience after reaching a record high. The price of gold surged and then fell back to test the support below, and then rebounded quickly. This clearly demonstrates the strong demand for bargain-hunting in the current market.

Overall, the overall upward trend in gold prices remains solid. In terms of operating strategy, it is recommended to arrange long orders after a callback. In the short term, focus on the resistance level of 4040. If it is successfully broken, resistance will shift to the 4050-4070 range. The short-term support below will first focus on the $4020 to $4010 support, and the more critical defensive level is around $4000. Any pullback toward this support area could provide an opportunity for a new round of long entry.