Yesterday, the gold price closed three consecutive gains, continuing the bull market trend that has been rising since this round. After starting this round of upward movement at the $2880 level, the daily chart showed a cross adjustment with three consecutive bullish days. After the adjustment, the bulls remained strong and closed again with three consecutive bullish days. As a new upward trend unfolds, there is still reason to continue bullish.

On the news side, the closely watched resolution of the Federal Reserve met expectations, maintaining interest rates at 4.25% -4.5%, slowing down the reduction of treasury bond bonds to $5 billion, and significantly reducing the forecast for economic growth this year by 0.4 percentage points. The dot plot shows that there is still a possibility of two interest rate cuts per year in the next two years, but Federal Reserve Chairman Powell has repeatedly emphasized the uncertainty of future interest rate cuts and reiterated that he is not in a hurry to change his stance. In addition, in terms of the situation between Russia and Ukraine, the unresolved land disputes make it difficult to advance negotiations, and risk aversion will not significantly weaken in the short term, which does not pose too much resistance to gold prices.

The SPDR, the world's largest gold ETF, continues to receive inflows, with a total market value of $88.4 billion, reaching a historic high, demonstrating the market's high enthusiasm for buying gold and providing support for the upward trend of gold prices.

In terms of technical form, every adjustment will usher in a new upward trend. Yesterday, the European market experienced a pullback from 3045 to 3022, with a bearish candlestick appearing on the 4-hour chart. However, this bearish candlestick oscillation often leads to a new round of upward movement after correction. This phased adjustment will form new upward steps and waves.

In summary, gold continues to be bullish today. Given the current strong market situation, it is expected that the retracement will not be too large. Radical investors can directly enter the market near 3051 to buy long, with a target towards the 3068 line.