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Wednesday, June 5th Gold Morning Analysis
From the market trend perspective, gold prices stabilized at the 4500 level, halting the decline, with lows gradually rising, and support below is strong enough, and the rebound momentum is slowly recovering. 4500 is an important bottom line price; as long as it is not broken, the overall trend still leans towards the upside.
In terms of the market, the overall trend is stable at the moment, with the US dollar slightly rising, having little impact on gold. Coupled with geopolitical tensions providing safe-haven support, there are no obvious negative news at present, and gold maintains a sideways upward trend overall.
Trading idea: During the pullback to the 4530-4550 range, enter the market in batches to go long, with short-term targets of 4580-4600, and a breakout to the upside targeting 4630-4660. $BTC $ETH $XAUT