Jin Jin Chengfeng | Gold Morning Analysis (May 15)

【Overnight Review】
Overnight, the gold market failed to hold the $4,700 level and weakened amid choppy trading. This morning, the downtrend continued, with the low dipping to around $4,647, before a modest rebound to around the $4,660 area for consolidation.

【Today’s Key Variables】
1️⃣ Wosh takes over as the next chair of the U.S. Federal Reserve tomorrow, with the market pricing in the risk of a hawkish stance in advance
2️⃣ The China–U.S. summit: positive developments on trade vs. geopolitical tensions, with back-and-forth pulling in both directions
3️⃣ Tonight at 20:30, initial jobless claims + import price data

【Technical Levels】
Resistance: 4675-4680 / 4700
Support: 4645-4650 / 4600
Current: 4660-4665, weak consolidation

【Trading Approach】
On rebounds capped at 4675-4690, focus mainly on selling short. On pullbacks to 4640-4650, you can take a light long position. Use a small position size, set a stop-loss, and do not chase orders.

【Summary】
Bearish sideways range is the bias—wait for catalysts. Look for shorts by finding resistance on rebounds; it’s more stable than chasing shorts. #黄金 #现货黄金创历史新高