5.12 Midnight Gold Review: CPI Shock! Gold Plunges Off a Cliff, Breaks Below 4680

Market Review: The US April CPI data released tonight exceeded expectations, inflation stubbornly elevated, and the US dollar index surged to 98.37. Gold came under pressure and plummeted sharply, continuing to decline from the intraday high of 4773, with a low of 4638, current quote at 4662, down more than 1.5% intraday, with the key support level at 4680 effectively broken.

Market Analysis: The 4-hour cycle gold price broke below the 7, 20, and 90-day moving averages, establishing a bearish pattern; the 1-hour moving averages are arranged bearishly, short-term indicators are oversold, indicating a slight technical rebound, but the rebound momentum is weak, and the overall trend is bearish. Inflation data reinforces expectations of rate hikes, continuously suppressing the upward space for gold prices.

Trading Suggestions: Light short positions on rebounds to the 4680-4690 range, stop loss at 4710, target 4640-4620; if the correction stabilizes around 4638, consider short-term long positions, stop loss at 4617, target 4670, with strict position control.

Disclaimer: The above is only a market opinion sharing and does not constitute investment advice. Investment should be based on individual risk tolerance and independent judgment.