3.31 Gold safe-haven demand warms but struggles to overcome macro headwinds. Although short-term downside remains, the decline shows resilience supported by safe-haven demand. The future trend will depend on the pace of conflict development, the persistence of inflation pressures, and the Federal Reserve's policy responses. In a complex environment of triple uncertainties, gold may experience significant divergence: short-term tests of key resistance levels, but medium- to long-term favorability due to systemic risks. This week’s upcoming releases of US job openings, retail sales, ADP employment reports, and non-farm payroll data should be closely watched.

The daily chart closed overnight with a doji star, with a rally near 4580 facing resistance and pulling back. Overall, the rhythm is oscillating but slightly bullish, with Bollinger bands narrowing and moving averages turning upward. The daily consecutive positive closes signal a rebound, and if the price can break and stabilize above 4600, it could gradually target the key resistance levels at 4700-4750. However, if the 4700-4750 zone cannot be effectively broken, the rebound is likely to fade gradually, as in previous instances. The 4-hour cycle has risen to around 4600, breaking above the upper band resistance. If it can hold steady, further volume expansion is possible, awaiting stronger upward momentum. Support levels are at 4580, 4550-45, 4500-4490. In terms of trading strategy, focus on buying on dips, aiming for 4700-4735-4750.

Trading suggestions: Buy near 4550-45 with a stop at 4540, targeting 4600 and 4700-4735! On dips to 4500-4490, consider long positions. If the 4735-50 resistance holds, look for short opportunities!