5.11 Gold Morning Market Analysis

The current market is influenced by the tug-of-war over Federal Reserve rate cut expectations, coupled with ongoing geopolitical tensions and global central banks continuously increasing gold holdings to form a bottom support, making it difficult for gold prices to break out of a one-sided trend in the short term. Overall, the market remains in a range-bound oscillation.

Currently, gold prices are under significant resistance at the 4721 level and the middle band of the Bollinger Bands. The core trading range is locked between 4690 and 4751, with the forces of bulls and bears approaching a balance, and no effective breakout direction has emerged for now.

Practical Trading Ideas

If the market pulls back to the support zone of 4660-4680, consider opportunistic low-buying to establish long positions; if there is a further deep correction down to the key support of 4630-4650, you can add to your long positions accordingly. It is recommended to manage position sizes reasonably and enter in batches.

If the morning market directly moves strongly upward, you can lightly follow the trend with long positions around 4710. The first short-term target is near 4730, and after a quick rise and stabilization, it can be viewed as reaching the pressure zone above 4750.