May 7 Gold Morning Analysis

Tensions between the US and Iran are gradually easing, and market risk aversion sentiment is falling back, but the US dollar continues to weaken, coupled with market bets on a high probability of Fed rate cuts; central banks around the world are continuously increasing their gold holdings, and the long-term bullish logic remains firmly in place, providing a solid support base for gold prices.

The four-hour trend shows a standard upward wave pattern, with higher highs and higher lows, making the bullish trend clear at a glance. Currently, the high-level consolidation is just a mid-advance pause, not a top or peak, and the overall strong market pattern remains unchanged.

All multi-timeframe moving averages are aligned in a bullish arrangement, with support levels steadily rising below, and every pullback is an excellent opportunity for trend-following long positions.

Trading reference:
Pull back to the 4680–4650 range to gradually build long positions, with a short-term target of breaking through 4750 for continuation, and a medium-term goal directly aiming at the 4850 resistance level.
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