May 22nd Wenjie Gold Morning View



Yesterday, gold sharply retreated and then rebounded, falling to the low of 4488 with strong support, closing with a long lower shadow on the daily chart, indicating solid support at the low. This morning, the price fluctuates narrowly around 4528, with market sentiment on Friday being quite cautious, awaiting the evening PCE inflation data to set the direction.

The US dollar and US Treasury yields are oscillating at high levels, temporarily suppressing a significant rebound in gold prices, but bottom-fishing buying and ongoing central bank gold purchases limit the downside space. The overall trend is a rebound after a sharp decline.

Support: 4500, 4480
Resistance: 4560, 4580

Morning Trading Strategy
Buy on dips around 4500–4490 with stabilization, stop loss at 4470, target 4540–4560#现货黄金
GLDX-4.6%
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