May 11 Gold Morning Analysis by Wenjie

A small opening for today’s spot gold price, slightly lower, currently consolidating within the range of 4695-4700, with a short-term trend tending to be weak and correcting, bullish strength is lacking, and there are no strong reversal signals yet.
The main focus this week is the ECB interest rate decision, US CPI data, and Federal Reserve officials' speeches, as policies and inflation expectations will lead the direction of gold prices. Currently, expectations of repeated rate cuts, the US dollar at high positions and under pressure, and risk-avoidance sentiment beginning to ease, so gold prices lack the strength to rise, and the morning opening is dominated by technical corrections.
The daily timeframe still shows a generally bearish pattern, as a technical correction after a decline; in the short term, small rebounds are needed, but the pressure from moving averages above is quite clear, rapid increases are easily hindered, and overall volatility tends to be weak.
Key Points
Resist pressure: 4710-4715, 4730-4735
Support: 4685-4680, 4660-4655
Core Range: 4680-4735
Trading Suggestions
Return to the range of 4680-4685 and enter positions when stable, with a stop loss below 4673, targeting 4700-4710, and if broken, hold positions to see 4720-4730. #现货黄金 $XAUT #BTCBreaks82000