5/14 Gold Morning Thought Analysis

Yesterday, gold surged higher then pulled back, touching resistance at a high level before a slight correction, remaining in a bullish-led oscillation pattern and not a trend reversal. This pullback is mainly due to short-term traders taking profits, combined with a temporary cooling of market rate cut expectations, which is a normal technical adjustment.

Looking at the current market, gold has strong support at $4,640 below, with multiple dips quickly rebounding, indicating sufficient buying support. The daily trend remains bullish, with moving averages still in a bullish alignment, and the short-term correction is just a consolidation phase.

The long-term fundamentals remain solid, with global central banks continuing to buy gold and geopolitical uncertainties persisting, providing strong safe-haven support for gold prices. The Fed's rate cut expectations are only delayed, not canceled; once relevant signals are released, gold prices will strengthen again.

Operation suggestion: Buy around 4680-4690, if the rebound is strong, buy at 4645-4660, targeting 4725, 4755, 4785.

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