#成长值抽奖赢金条 📊 Overview of Gold Market Trends on May 29, 2026

- International spot gold (XAUUSD): approximately $4,515 per ounce, slightly rebounded today +0.4% to +0.8%, after touching a recent low yesterday, supported by buying interest
- Domestic spot gold (Shanghai Gold/T+D): about ¥984 per gram, paper gold approximately ¥982 per gram
- This month's background: Gold prices retreated from high levels in May, once falling below $4,400, with a total correction of about 15%-20% from the peak, pressured by hawkish Federal Reserve expectations and high U.S. Treasury yields

📉 Fundamentals: Mixed bullish and bearish signals

Bearish (pressuring) Bullish (supporting)
Hawkish Federal Reserve officials, market pricing in about a 40% chance of rate hikes this year, 10-year U.S. Treasury yields >4.6% Central banks worldwide continue net gold purchases (over 300 tons in Q1), Chinese central bank continues to increase holdings
Dollar remains relatively strong, increasing opportunity cost of holding gold Negotiations between the U.S. and Iran stalled + ongoing geopolitical uncertainties maintain safe-haven demand
Recent outflows from gold ETFs, short-term speculative sentiment cools U.S. economic data (GDP revisions downward, initial jobless claims rise) fuels expectations of future rate cuts by some investors

📈 Technical Analysis Summary

- Trend: Daily chart remains in a weak correction/sideways range after the May decline, previously broke below the 200-day moving average but temporarily supported by a rebound
- Key levels:
- Resistance: $4,500~$4,436 (previous high pressure zone), $4,560~$4,600
- Support: $4,370~$4,400 (recent lows), $4,260~$4,250 (stronger support)
- Indicators: MACD shows a death cross but downward momentum slightly wanes, RSI neutral to slightly low, short-term oversold rebound possible but moving averages remain bearish

🔮 Market Outlook

- Short-term (1-4 weeks): Mainstream institutional view is wide-range consolidation, with the range around $4,300-$4,560, awaiting Federal Reserve signals or key data (non-farm payrolls, CPI) to break the balance
- Mid-term (second half of the year): If inflation eases and rate cut expectations restart, a rally is likely; some institutions have lowered year-end target prices to $5,200-$5,500, but long-term support from central bank gold purchases remains positive
- Risk warning: If the Federal Reserve remains hawkish and U.S. Treasury yields surge again, watch out for a possible dip to support levels of $4,250~$4,300

⚠️ The above market analysis is for reference only and does not constitute investment advice. Please pay attention to risk management in operations.
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