Gold breaks through $5200, with a clear bullish trend. A new round of upward potential has opened.

From the international situation, the Middle East geopolitical conflict continues to escalate, with increased US-Iran confrontation. Shipping safety risks in the Strait of Hormuz have sharply risen, leading to a large influx of safe-haven funds into gold, becoming the core driving force behind the gold price increase. Meanwhile, the US has imposed additional global import tariffs, causing turbulence in the international trade system. The de-dollarization process is accelerating, and gold, as a hard currency without sovereign credit risk, is being revalued for its strategic allocation value by the market.

Policy and capital factors are resonating strongly. Expectations for Fed rate cuts continue to rise, and the US dollar index has weakened significantly, reducing the holding cost of gold; global central banks are increasing gold purchases, with China’s central bank continuously adding to its gold reserves for 15 months in a row. Countries like Poland are also significantly increasing their gold buying plans. Structural buying provides solid support for the gold price.

The four-hour Bollinger Bands are opening upward, with prices trading above the middle band. Although the MACD shows short-term correction signals, the overall bullish structure remains intact. In the short term, once the resistance at $5210 is broken, the upward space is open.

In the evening, consider buying in batches around $5140-$5160, with targets of $5250 and $5280.