5.8 Midnight Gold Review: Non-farm Data Mixed, Gold Rises to 4750 Before Pulling Back

Market Review: Today, gold fluctuated upward, with the price once surging to $4,749 per ounce. After encountering strong resistance at the 4750 level, it pulled back, currently oscillating around $4,707, closing up about 0.4%; the US dollar index dipped to 97.93. Easing geopolitical tensions and expectations of rate cuts drove gold prices higher, overall showing a pattern of rising then retreating.

Trend Analysis: From a technical perspective, the 1-hour and 30-minute moving averages remain in a bullish alignment, but there is clear selling pressure in the 4750-4753 range. After short-term overbought conditions, a correction risk is accumulating. With non-farm data presenting a tug-of-war between bulls and bears, market sentiment is cautious, and gold is consolidating around the 4700 level, awaiting a directional move.

Trading Suggestions: In the short term, focus on buying low within the 4700-4710 range, with a stop loss at 4680, targeting 4740-4750; avoid chasing longs near 4750, and upon initial resistance, consider light short positions with a stop at 4760, targeting 4720. Post non-farm data, market volatility has increased; it is recommended to operate with light positions and strict risk control.

Disclaimer: The above is for market opinion sharing only and does not constitute investment advice. Investment decisions should be made independently based on your own risk tolerance.