5.4 Evening Gold Latest Strategy

Gold opened higher in the morning session, then fluctuated lower; after rallying to around 4638 and 4629, it met resistance and fell back. Currently, it is clearly under short-term pressure and trending weaker.

In the evening, closely watch the 4560 core support-and-resistance pivot, which is a hard defensive level for the bulls: if 4560 is held, price action will remain in a range-bound oscillation; once 4560 is effectively broken to the downside, the gold price will move further lower, with key support seen in the 4530-4510 area.

On the fundamental side: U.S. economic data is strong, and the market has significantly pushed back expectations for the Federal Reserve to cut rates in 2026; many views believe that the earliest rate cut would not be until 2027. The U.S. Dollar Index is firmly holding above 106, continuously pressuring the gold price; at the same time, Middle East geopolitical risk sentiment is gradually fading, with profit-taking funds leaving the market, which directly limits the rebound strength of gold prices.

Evening precise trading ideas

1. If price pulls back to 4560, stabilizes, and does not break below, directly open long positions; if the real body breaks below 4560, give up chasing shorts and wait to re-enter longs in the 4530-4510 support zone.
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2. If the rebound touches the 4600-4610 resistance area, short directly; if it strongly holds above 4610, stay on the sidelines and wait to take a short in line with the trend at the 4630-4638 high.