5.15 Early Ze Gold Evening Analysis

Today, the white session gold continued its overall weak decline, with gold facing downward pressure throughout the day. During the Asian session, it oscillated downward from around 4665, and during the European session, the decline further expanded, reaching a low of 4531 before slightly rebounding. Currently, it is consolidating around 4550, with short-term bears dominating but signs of a bottoming out appearing at low levels.

On the news front, recent market activity has been continuously affected by rising U.S. Treasury yields, a rebound in the dollar, and Middle East tensions, putting short-term pressure on gold. The market's expectation that the Federal Reserve will maintain high interest rates has increased, suppressing gold prices. Meanwhile, rising oil prices and inflation concerns have repeatedly stirred market risk aversion. Tonight, focus remains on changes in the dollar and U.S. Treasury yields; if there is a spike followed by a pullback, gold may see a technical rebound.

Technically, the current Bollinger Bands are narrowing, short-term moving averages are arranged in a bearish pattern, and the KDJ indicator is at a low level, showing clear signs of overselling in the short term. The key support below is around 4530, and the important short-term resistance zone is near 4590.

Gold can dip around 4500-4520 for a correction, with the target aiming for around 4600 and above. #Gate广场五月交易分享
$BTC $ETH $XAUT