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May 11, 2026 Spot Gold Morning Analysis
Spot gold opened lower at around 4679 in the morning, then quickly stabilized and began to rebound and recover, currently trading within a narrow range around 4695. There were no major news releases over the weekend, and the overall fundamentals remain relatively flat, with the market mainly moving in tandem with the US dollar index and crude oil.
The hourly chart shows a small bullish candle, with the MACD green bars continuing to shrink, indicating a clear short-term rebound and recovery momentum. The first short-term resistance is at 4700, and a successful break above could lead to a move toward 4720; key support levels are at 4680 and 4660, with strong support at 4660.
In terms of trading strategy, rely on the two major support levels at 4680 and 4660, stabilize and gradually add long positions on dips. Short-term targets are 4700 and 4720, with further upside potential toward 4750. The medium-term overall direction remains focused on the 4800 level.
The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific actions! $XAUUSD #XAU