20 April 2026 Spot Gold Morning Analysis

Spot gold opened with a gap down in the morning, declining steadily, maintaining a weak oscillation pattern in the short term, with bearish sentiment temporarily released.

Currently, the gold price is approaching the key support levels of 4770 and 4750 below, with the support strength gradually emerging. Once it stabilizes and stops falling, a rebound to fill the gap may be expected.

In terms of operation, it is not recommended to blindly chase short positions. Be patient and wait for stabilization signals at low levels, and rely on support to gradually build long positions for more safety. You can buy in batches around the 4770—4750 retracement zone, targeting 4800 and 4830 levels, strictly controlling position size and stop-loss, and seizing the rebound and repair trend accordingly.

The above is only personal advice, for reference only, not investment basis, please follow Cheng Jingsheng's layout for specific guidance!$XAU ‌#XAU