5.21 Midday Gold Analysis:



The market has entered a critical window of major fundamentals, with the Federal Reserve meeting minutes overnight dominating the market trend. Inflation data warming up has boosted the dollar, putting short-term gold prices under pressure. Fortunately, geopolitical risk aversion sentiment has increased, combined with multiple central banks continuously increasing their gold holdings to solidify support at low levels, and the overall trend remains within a range of oscillation.

Technically, after a quick rebound from the intraday low, the market stabilized rapidly, showing a volatile but slightly strong trend. The key strong support below is at the 4500 level, with short-term resistance between 4580 and 4600. Currently, the market is mainly consolidating within a range, patiently waiting for a clear breakout to confirm the trend.

Trading Suggestions:

Pull back to the 4505-4515 range to gradually build long positions, targeting 4560-4580. A successful breakout could lead to a further move toward 4610.
PAXG1.07%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned