May 18 Wenjie Gold Evening Outlook

Currently, gold prices are quoted around 4540, with a short-term dip to a new low of 4480 followed by a slight rebound at low levels. The overall trend is clearly bearish, with a weak rebound strength, continuing a oscillating downward pattern.

Market Core Logic

U.S. economic data remains resilient, delaying the market’s expectation of Federal Reserve rate cuts. The dollar and U.S. Treasury yields continue to strengthen, continuously suppressing gold prices. Technically, breaking below key supports at 4600 and 4550 fully opens the bearish trend. All short-term rebounds are just corrections, not reversals. Geopolitical safe-haven sentiment is limited and cannot offset the negative pressure from tightening liquidity.

Tonight’s Key High and Low Points

Resistance levels: 4560–4580 (short-term strong resistance), 4600 (critical dividing line)
Support levels: 4500 (short-term battleground), 4480 (intraday low)

Tonight’s Trading Strategy

Overall approach: Focus on selling rebounds at high points, avoid blindly bottom-fishing.

If rebounds face resistance at 4550–4570, consider short positions with stops above 4585, targeting 4500. If broken, look for a new low at 4480.

Tonight’s market volatility is relatively high. Strictly maintain defensive positions, control risk levels, and avoid chasing orders. #现货黄金 #外汇黄金 $XAUT