Data prelude bulls accumulate strength, gold outlook remains optimistic

From a news perspective, global geopolitical risk aversion sentiment continues to rise, combined with central banks worldwide steadily increasing gold holdings, providing strong support for gold prices. Although market expectations for a Federal Reserve rate cut fluctuate, the long-term easing outlook remains unchanged, limiting the upside space for the dollar, which is favorable for bullish gold trends. If U.S. economic data tonight falls short of expectations, it will directly boost expectations for rate cuts, further supporting gold price increases.

On the technical side, the four-hour chart shows gold prices stabilizing above the middle band of the Bollinger Bands, with the KDJ indicator forming a bullish crossover upward, indicating that bullish momentum continues to strengthen, and the oscillating upward trend is clear. The first target above is the resistance zone of 4720‑4743, with solid support formed at 4690‑4670 below.

Suggestions:
Pull back to around 4680-4700 to buy in batches, target 4730, 4780

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk based on this information. #Gate广场五月交易分享