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May 12 Spot Gold Trading Outlook
The market surged to 4780 in the early session but faced resistance and pulled back, and during the pullback, 4740 did not form effective support, indicating a current downward trend with further downside potential.
Therefore, intraday traders can wait for support around 4710 to test before opening long positions, with an initial upward target of 4738, and if volume increases successfully, aim for 4780.