5.6 Wednesday Zhongling Gold Silk Dew Sharing

The market’s expectations for a Federal Reserve rate cut this year continue to weaken; the long-term high interest rate environment remains in place, and it continues to suppress gold bulls. After a sharp drop in gold prices following the holiday, the early session saw a slight rebound, but the short-dominated pattern remains unchanged; overall, gold still trades on the weaker side. The hourly chart shows that after gold fell to 4510, it temporarily stabilized; however, the rebound lacks strength, making it difficult to change the downward trend, with heavy pressure above. Trading suggestion: On rebounds toward the 4650 area, first set up short positions; targets to watch sequentially are 4630-4600-4580
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