On Tuesday (April 14th) in early Asian trading, spot gold rose slightly, trading around $4760 per ounce. Despite the US military's announcement of a blockade of the Gulf of Oman and the Arabian Sea, contact between the two sides continues after the breakdown of US-Iran talks. It is understood that the next round of talks may be held in Islamabad on the 16th.

In summary, this gold price movement is essentially the result of a game between geopolitical, energy crisis, and monetary policy factors. Oil prices will be the core variable in the coming weeks—if the Strait of Hormuz cannot be reopened for a long time, inflationary pressures will continue to increase the attractiveness of gold; conversely, if the US and Iran reach a new agreement through third-party channels such as Pakistan, the decline in oil prices may temporarily suppress gold prices. However, the current situation—NATO's refusal to get involved, the ceasefire agreement expiring in only one week, and Trump's hardline stance of "not approving any agreement that allows Iran to possess nuclear weapons"—all point to the conflict being difficult to completely resolve in the short term.

From the daily chart for spot gold, yesterday's price rebounded, forming a bullish candlestick with a clear body. The price is currently maintaining its upward trend, and the MACD indicator is still in a golden cross formation, suggesting the rebound may not be over yet. Intraday, attention should be paid to whether the MA5 moving average provides support.

From the 4-hour chart for spot gold, although the price has continued to rebound since the start of the week, it has failed to break through the previous high. Currently, the MACD indicator has not yet issued a golden cross signal, suggesting that the future trend may still be uncertain. Intraday, attention should be paid to the support levels of the MA5 and MA10 moving averages. Resistance: 4780-4790-4800 Support: 4770-4760-4750

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.