5.6 Midday Jiangyu Heng Gold Deep Analysis

The US-Iran situation has eased, with the US suspending escort operations through the Strait of Hormuz, leading to a rapid cooling of geopolitical risks. Coupled with a weakening dollar and falling oil prices, gold has surged strongly.
Spot gold has risen over 2.7% intraday, with prices stabilizing above $4,680, hitting a recent new high.
Market Analysis
The daily chart shows a stable bullish trend, with consecutive gains breaking previous highs, and the gold price firmly above the upper Bollinger Band, indicating a strong upward trend.
The 15-minute chart shows continuous short-term gains, with short-term support in the 4650-4660 range, and focus on whether the 4700 level can be broken in the near term.
Core Logic and Market Outlook
This rise is mainly driven by the easing of geopolitical tensions and market sentiment recovery, along with a weaker dollar. However, there is a possibility of repeated fluctuations, and it is not advisable to blindly chase gains at high levels.
In the medium to long term, economic risks, geopolitical instability, and currency fluctuations will continue to enhance the allocation value of gold.
This week, focus on non-farm payroll data, as the results will influence Federal Reserve policy expectations and the dollar trend, directly determining the future direction of gold. #Gold