May 6th Wenjie Gold Morning Review

Yesterday, gold fell sharply, probing the $4,500 level during the session.
This morning, a technical oversold rebound occurred. As of the early trading session, gold prices recovered to around $4,580, ending the short-term decline and rebounding.

The Federal Reserve's rate cut expectations continue to cool down, the dollar and U.S. Treasury yields rise, continuously suppressing gold prices;
In the short term, due to the previous large decline, low-position buying was triggered, leading to a correction in gold prices.
Easing geopolitical tensions also helped stabilize market sentiment gradually.

Resistance: 4600, 4650
Support: 4560, 4500

Intraday Trading Recommendations

Focus on short-term buying on dips, gradually going long around 4540-4560, targeting 4600, breaking through to 4620, with a stop loss below 4530;
If the rebound is blocked at 4600, consider light short positions, targeting 4560-4540, with a stop loss above 4620. #现货黄金 $XAUT