March 13, 2026 Spot Gold Midday Analysis

This morning, spot gold's movement completely aligned with our forecast. Around 5130, there was pressure-driven pullback. The early session first surged higher then retreated, with overall volatile and weakening trend.

Yesterday's sharp gold price decline broke short-term moving averages on the daily chart, with bears dominating. The 4-hour chart continues weakening, with 5130 above being a clear resistance level. When bulls reach here, they lack momentum and directly retreat. Below, we first watch the 5100 support level; if broken, then watch around 5050. Early session showed minor fluctuations, just the rhythm of high-level pressure and low-level testing.

The news backdrop is straightforward: First, Fed rate cut expectations continue cooling, with the market believing there will be very few rate cuts this year. The US dollar and US Treasury yields strengthen, while gold bearing no interest is naturally suppressed. Second, last night's US employment data was solid, further dampening rate cut expectations and weighing on gold. Third, although Middle East tensions have some disruptions, they haven't escalated, so safe-haven buying is limited and cannot support gold prices.

We made an early forecast this morning that pressure around 5130 would trigger pullback, and the market delivered precisely. Early session gold prices oscillated in the 5100-5130 range, with failed surges and supported retreats. Short-term bears remain dominant.

Operationally, rebounds to the 5120-5130 resistance zone can follow the trend to go short. Below, focus on the two support levels at 5100 and 5050. If those break, watch for even lower levels.

The above is only personal advice for reference only and does not constitute investment basis. Please refer specifically to Cheng Jingsheng Shiwan's layout!$XAU ‌#XAU