May 13 Midday Market Analysis

Above-expected CPI data brought clear bearish pressure, causing gold prices to decline. The hourly chart shows a weak structure, with resistance at 4710-4720 and support at 4670-4650. If the price effectively breaks below 4650, it may further decline to 4620.
　　Stronger-than-expected inflation data delays the Fed's rate cut expectations, and the dollar's strength continues to suppress gold prices. Limited safe-haven support from Middle Eastern tensions makes it difficult to reverse the short-term weakness. After a high-level correction, selling pressure remains, and upward space is limited.
　　
　　In the short term, the trend is mainly downward with oscillation. Consider buying on dips near 4710 if the rebound occurs.
　　Conservative traders can only attempt small positions when the price stays above 4655.
　　Aggressive traders can consider entering on a second dip near 4680.
This is just a viewpoint; investing involves risks. Enter cautiously!