#Gate广场五月交易分享

Summary of today's gold market

1. Market Review

Market Summary

As of May 13, 2026, spot gold prices hovered around $4,699 per ounce with narrow fluctuations. Previously, gold prices surged to $4,773 per ounce, but with U.S. CPI year-over-year rising by 3.8% and core inflation reaching 2.8%, market expectations for Fed rate cuts significantly cooled down, the dollar strengthened, and gold was suppressed, leading to a pullback after the rally.

2. Technical Indicator Analysis

Daily Chart: RSI shows overbought divergence signals, bullish momentum wanes, and short-term correction pressure exists.

4-Hour Chart: Bollinger Bands are narrowing, gold prices fluctuate within the $4,670–$4,760 range, direction is unclear, awaiting a breakout to confirm the trend.

Gold maintains a high negative correlation with the US dollar index and US Treasury yields, with recent correlation strengthening, indicating that interest rate expectations remain the dominant factor.

3. Key Support and Resistance Levels

Support Levels: First support at 4,650

Second support at 4,600

Resistance Levels: First resistance at 4,750

Second resistance at 4,800

4. Market Outlook and Trading Suggestions

Short-term (1-3 weeks):

Bearish consolidation: High inflation data supports a strong dollar, gold prices are constrained by interest rate expectations, watch out for risks of dropping below $4,600.

Breakout opportunity: If U.S. economic data (such as employment) weakens, safe-haven buying could push gold back above $4,760.

Trading suggestion: Light short positions at current prices, stop loss above 4,750, take profit at 4,650.

Medium to long-term (3-6 months):

Structural bullish outlook:

Central bank accumulation: Central banks in Poland, China, and others continue to buy gold (Poland increased holdings by 12.66 tons in April, aiming for 700 tons).

Allocation demand: Global institutional gold allocation is only 2%, raising it to 3% could trigger an additional demand of 5,000 tons (exceeding annual supply).