April 30th, Simplified Chinese Morning Gold Market Analysis

This morning, gold generally moved weakly with oscillations, with the price rising to around 4564 before facing resistance and falling back, dropping to a low of 4518, then slightly rebounding technically. Currently, gold prices are fluctuating around 4555.

In the short-term market, the bearish trend still dominates, and the bullish rebound is insufficient, making it difficult to sustain a continuous upward trend.

On the news front, early this morning, the US released very strong economic data, with employment and consumption performing robustly. The market is more confident that the Federal Reserve will continue to maintain high interest rates, and the timing of rate cuts is further delayed. The US dollar and Treasury yields both rose, continuously suppressing gold prices, making significant rebounds unlikely.

Technically, the short-term trend is weak, with overall oscillation downward. The key resistance is at 4560; without breaking this level, rebounds are mostly fleeting. The critical support is at 4510; once broken, the downward trend will continue. Currently, gold is consolidating after a rise and fall, with a sideways correction at lower levels.

Operational suggestion: When rebounding to the 4570-4600 range, consider short positions accordingly.
Target below: 4530-4480.