Spot gold continued its upward trend in early Asian trading on Tuesday (October 14), currently trading around $4,135.22 per ounce. Current international trade tensions, geopolitical uncertainty, and expectations of loose monetary policy continue to provide upward momentum for gold prices. Gold has risen 56% year-to-date, maintaining its strong momentum after breaking through the $4,000 milestone last week.

This week will see a series of appearances by Federal Reserve officials, so investors should be mindful. This trading day will also feature Fed Chairman Powell's speech at an event hosted by the National Association for Business Economics, which investors should pay close attention to.

From a daily spot gold chart, gold prices continued their upward trend yesterday, forming a large real-body bullish candlestick pattern. The moving averages have been maintaining a bullish alignment recently, and the MACD indicator is also forming a golden cross, indicating a clear bullish trend. We recommend a buy-on-dip strategy and reducing aggressive bearish moves.

Looking at the 4-hour spot gold price, despite a slight correction last Friday, it has resumed its upward trend since the start of this week, reaching a new all-time high. The MACD indicator is still forming a golden cross, and the moving average cluster maintains a bullish pattern, suggesting further upward movement. During the day, watch for support from the MA5 and MA10 moving averages. Resistance levels: 4170-4180-4190. Support: 4160-4150-4140.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.