5.30 Next Week Gold Price Forecast and Market Analysis

Last Friday, gold experienced wide fluctuations, rising to 4594 before the bulls lost momentum to continue the rally, ending with a series of downward candles and closing at 4539. The market was briefly boosted by the US-Iran memorandum news, which is a typical profit-taking pullback after a short-term rally.

In the past, rising oil prices pushed inflation higher, suppressed rate cut expectations, and were bearish for the US dollar, which was bullish for gold; now the situation has changed dramatically, as many European and American central banks have signaled interest rate hikes one after another. High inflation cannot be alleviated solely by falling oil prices, and the global monetary tightening cycle is suppressing gold prices.

Currently, the main factor driving gold prices is geopolitical safe-haven demand. If diplomatic negotiations ease, the safe-haven demand will diminish, putting pressure on gold prices.

Overall, the trend next week is expected to be weak and downward. Trading should rely on the resistance zone of 4552-4562, mainly engaging in phased short positions on rebounds.

Recommended operation: Short near 4552-4562, stop loss at 4573, take profit at 4512.

Risk reminder: Geopolitical news is highly unpredictable; manage risk carefully #黄金 with stop-loss orders.