May 7, 2026 Spot Gold Morning Analysis

Yesterday, the spot gold market experienced extremely volatile movements, with an overall single-sided increase of over 170 points. During the U.S. session, volatility slowed somewhat, and the trend became more stable, but the tug-of-war between bulls and bears remained intense.

This morning, gold prices are maintaining a high-level oscillation around 4700, and a short-term single-sided trend will require further news-driven stimuli to initiate.

From a technical perspective, the 4-hour moving averages remain in a bullish alignment, and the RSI indicator is in the neutral zone, with bulls and bears temporarily at a stalemate.

Key resistance above gold prices is seen at 4720, with strong resistance at 4750; short-term support is at 4680, with strong support at 4660.

Overall, it is highly likely that the morning gold prices will continue to oscillate and consolidate at high levels. In terms of trading strategy, it is recommended to consider short positions around the resistance levels of 4720 and 4750, with targets sequentially at 4680 and 4650.

The above is only personal advice for reference and does not constitute investment advice. Please follow the layout of Cheng Jingsheng Stone Pile for specific trading decisions! $XAUUSD ‌#XAU