May 13th Wenjie Gold Morning Analysis

Yesterday, gold prices were sharply impacted by U.S. CPI data, plunging briefly to a low of $4,637 before strong buying support emerged, quickly rebounding to recover the decline, ultimately stabilizing above $4,720. The pullback did not break key support levels, indicating a clear short-term stabilization signal.

After the release of U.S. CPI data, expectations of Federal Reserve rate cuts still persist, and the weak dollar continues to support gold prices through oscillations; tonight’s focus is on U.S. April PPI data, as data fluctuations will directly influence short-term market momentum. Meanwhile, geopolitical risk aversion and the ongoing logic of global central banks buying gold remain unchanged, providing medium- to long-term support for gold premiums.

The daily chart remains in a bullish arrangement, with a four-hour rebound from a bottom forming a stabilization structure, indicating short-term oscillations are leaning bullish.
Core support: 4700-4710 (intraday key support/resistance level), strong support at 4680-4650
Core resistance: 4730-4750, strong resistance at 4770-4780 (previous high-pressure zone)

Intraday trading ideas
Maintain a primarily long bias with cautious chasing of highs; strictly control positions and stop-losses during volatile periods:
Buy in stages on dips to the 4700-4710 range, with a stop-loss below 4680, target at 4730-4750#现货黄金