Morning Gold Outlook (5.22)

Last night, gold initially declined then rebounded, dropping close to 4490 before quickly bouncing back, with a long lower shadow on the daily chart, showing clear support from buying at low levels, and signs of stabilization in the short term. This morning, the market opened with slight fluctuations, mainly consolidating after the rebound.

On the fundamental side, US inflation data remains relatively strong, delaying expectations of rate cuts, with the dollar and US Treasury yields oscillating at high levels, which suppresses the space for gold price rebounds. However, the market has already partially priced in the "higher interest rates for longer," limiting further downside; meanwhile, global central banks continue to buy gold, providing medium- to long-term support at the bottom, making deep declines unlikely.

Technically, the daily chart shows a bottoming out and stabilization, with a clear four-hour divergence structure, and bulls are gathering strength. In the short term, expect oscillation and correction, with resistance at 4570-4600 and support at 4500-4490.

Morning Trading Suggestions:

• Lightly buy on dips around 4510-4520, with a stop loss below 4500, targeting 4560-4570.

• If a rebound faces resistance at 4570-4600, consider shorting, with a stop loss above 4620, targeting 4520-4500.

Overall, treat the market as oscillating with a bullish bias, control position sizes, and trade quickly in and out. #黄金##现货黄金##金价#