5.21 Midday Gold Outlook

This morning's gold outlook has been fulfilled. Now let's look at the midday gold trend. Today, gold surged and then fell back, with the highest touching $4,570.76 before facing resistance and retreating, entering a consolidation phase. Overall, it remains within the recent upward channel.

From a news perspective, overnight U.S. stocks surged, boosting market risk appetite. The U.S. dollar index slightly rebounded, suppressing gold prices; market expectations of Federal Reserve rate cuts cooled temporarily, coupled with the upcoming U.S. initial jobless claims data to be released tonight. Market sentiment is cautious, and funds have not yet entered significantly.

From a technical perspective, on the 1-hour chart, gold prices retested the middle Bollinger Band support, with the MACD histogram continuously shrinking.
Finally, Teacher Yan Yan's trading strategy: if the price retests and stabilizes at 4520-4530, consider a light long position, with a stop loss below 4510, targeting 4545-4550; conservative traders can wait until the data is released before acting, strictly controlling position size, and trading quickly in and out. #黄金 #黄金