5.4-5.8 The Fourth's Next Week Gold Trading Ideas

News: Next week, the US PCE inflation, non-farm payroll data, and Federal Reserve officials' speeches will be densely released. Coupled with the high levels of the US dollar and Treasury yields, short-term gold prices are under pressure; meanwhile, global central banks continue to buy gold, Middle Eastern geopolitical tensions remain unstable, and post-holiday physical gold demand is recovering, providing a bottom support for gold prices. Amid the tug-of-war between bulls and bears, gold prices are unlikely to show a one-sided trend, mainly fluctuating.

Technical: Currently, gold prices are fluctuating weakly, with the daily RSI dropping below 50, indicating a bearish advantage but not oversold. Key support levels are at $4,550 and $4,500, with $4,500 being a critical strong support; resistance levels are at $4,630 and $4,650, with $4,650 serving as the dividing line between bulls and bears, where rebounds are likely to encounter resistance and pull back.

Trading suggestions: Short-term adopt a range-bound buy low and sell high strategy
- For long positions: Lightly short on rebounds to $4,630-$4,650, with a stop-loss above $4,680, targeting $4,580-$4,550
- For short positions: After a pullback and stabilization at $4,500-$4,550, lightly short, with a stop-loss below $4,480, targeting $4,600-$4,630