Yichen: Weakening dollar boosts! Gold surges violently, with the bearish defense line completely collapsing

**Technical Analysis:**
On the four-hour chart, the gold price has strongly broken through the middle band of the Bollinger Bands, steadily approaching the upper band. Short-term moving averages are arranged in a bullish pattern, providing solid support for the gold price. Although the KDJ indicator is at a high level, it continues to diverge upward, indicating strong bullish momentum. Short-term pullbacks are more like consolidations rather than trend reversals.

**Fundamentals:**
The geopolitical conflicts in the Middle East continue to escalate, shipping risks in the Strait of Hormuz increase, and global risk-off sentiment reaches an unprecedented high. A large influx of capital is flowing into gold seeking safety, becoming the core driving force behind the price increase. Meanwhile, market expectations for a Federal Reserve rate cut in June are rising, putting pressure on the US dollar index and causing it to weaken further, which amplifies the upside potential of precious metals. If the upcoming US initial jobless claims data come in weaker than expected, it will directly reinforce expectations of rate cuts, pushing gold above $4,600 and opening up larger upward space.

**Suggestions:**
Buy in batches near 4455-4485 on pullbacks, with targets at 4580 and 4640. If broken, watch 4700. Aggressive traders can buy in batches near 4500.

**Disclaimer:** The above analysis is for reference only and does not constitute investment advice. Trade at your own risk. $XAU