5.12 Gold Intraday Strategy


Currently, gold prices are affected by cautious market sentiment ahead of CPI data release, with the US-Iran situation repeatedly providing safe-haven support, but gains are limited by rising US Treasury yields and delayed rate cut expectations.

From a technical perspective, the one-hour Bollinger Bands are tightening, with prices oscillating around the 20-MA, maintaining a short-term range consolidation, with buy low and sell high strategies.

Resistance 4760 / 4785
Support 4715 / 4690

For a rebound around 4760-70, short near, target below 4730
For a pullback near 4715, go long, target around 4745$XAU
XAU-0.68%
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