# 5.6 Bole Morning Analysis

Today (Wednesday) Asian market early session, spot gold shows a bottoming rebound and narrow-range correction trend, with a quote of $4609.8 per ounce at 8:50, up slightly by 0.35% intraday. Overnight gold prices experienced sharp fluctuations, initially dropping to the key support at $4500 before rebounding, with a long lower shadow on the daily chart, indicating that short-term bearish momentum is easing.

News

1. Federal Reserve expectations: High interest rates persist, rate cut expectations delayed until the end of the year, actual interest rates remain high, suppressing gold price rebound space.

2. US dollar and US bonds: The dollar index fluctuates slightly, the 10-year US Treasury yield falls back to around 4.42%, easing some pressure.

3. Geopolitical safe-haven: Tensions in the Middle East escalate, shipping risks in the Strait of Hormuz increase, oil prices surge, providing short-term support for gold safe-haven demand.

4. Market sentiment: After taking profits at high levels, buy orders around $4500 are evident, and bulls temporarily stabilize.

Technical Analysis

• Support: $4580-$4560 (early session oscillation lows), $4500 (strong support).

• Resistance: $4620-$4650 (short-term resistance), $4700 (mid-term bull-bear dividing line).

• Indicators: Hourly bullish alignment, four-hour MACD shows a bullish crossover below, rebound momentum is weak, mainly oscillating.

Today’s Forecast

The early session is likely to maintain oscillation within the $4580-$4620 range, with limited rebound strength. If it stabilizes above $4620, it may attempt to test $4650; if it breaks below $4560, it could retest $4500. Overall strategy: range-bound bullish bias, buy low and sell high, strict risk control, waiting for non-farm payroll guidance. #黄金##金价##现货黄金##原油#