5.8 Midday Gold Real-Time Analysis

The dual negative impact of non-farm payrolls and China visit has fermented, and gold remains stagnant at high levels, looking to short on rallies

Recently, the gold market has been under continuous pressure at high levels, repeatedly attempting to break through key levels but unable to do so effectively, with upward momentum gradually weakening, and the overall trend falling into a stagnant consolidation pattern. Coupled with the upcoming release of non-farm payroll data tonight and the emotional disturbances caused by related events, the overall market sentiment leans cautious and bearish, further limiting the rebound space above.

Currently, market sentiment is heavily cautious, with bulls lacking the willingness to push higher, and there is no sustained upward momentum in the short term. Multiple news factors resonate to suppress the market, and the rhythm of retreat from high levels has already begun to emerge. Any small rebound now is only a brief correction, not a sign of a reversal or strength. It is an excellent opportunity to position for short trades in line with the trend, with the overall approach being to look for pullbacks on rallies.

Trading Suggestions

Short in batches within the rebound range of 4740-4760, with a stop at 4775, first target at 4690, and if broken, then look at 4670.