5.7 Midday Gold Analysis

As the geopolitical situation between the U.S. and Iran gradually eases, market risk aversion sentiment has somewhat declined, but the U.S. dollar index continues to weaken, coupled with rising market expectations of a Federal Reserve rate cut; at the same time, global central banks are continuously increasing their gold holdings, solidifying long-term bullish logic, and providing strong bottom support for gold prices.

The four-hour chart shows a standard upward wave structure, with highs and lows steadily moving higher, indicating a clear and strong bullish trend. Currently, the price is consolidating within a narrow range at high levels, which is a mid-impulse accumulation phase during an upward move, not a sign of a market top; the overall trend structure remains relatively strong.

Multiple timeframes' moving averages maintain a perfect bullish alignment, with key support levels continuously rising below. Short-term pullbacks are healthy adjustments, and dips present good opportunities for long entries.

Trading suggestion: Go long around 4680-4690, targets at 4730, 4760, 4800
$XAUT $BTC $ETH #BTC回调 #黄金