6.1 Monday Morning Gold Outlook

This morning, spot gold remains volatile at high levels with slight downward pressure, trading in the range of $4530‑$4545 per ounce. Influenced by the repeated geopolitical negotiations between the US and Iran and the Fed's high-interest rate expectations, it opened slightly lower but quickly recovered. Overall, the market shows intensified bullish and bearish battles, with a tendency toward consolidation.

On the technical side, at the four-hour level, gold prices have rebounded strongly from the previous low of $4365, with solid support at the bottom. The Bollinger Bands are trending upward, and the price remains above the middle band, indicating that the bullish structure remains intact. Although there is a slight short-term pullback, it is a technical correction within an upward trend; the MACD bullish momentum is slightly converging without signs of a bearish reversal, and the RSI remains in a neutral to slightly strong zone. The short-term key resistance is at $4580‑$4600, while strong support is at $4500‑$4510, showing robust support during pullbacks.

From the news perspective, the Middle East geopolitical conflict has not fully subsided, and the US-Iran negotiations remain uncertain, providing ongoing safe-haven support for gold. The long-term logic of global central banks continuously increasing their gold holdings remains unchanged, with physical buying continuing to underpin gold prices. In the short term, pressure mainly comes from the US dollar index and high US Treasury yields. Market concerns about persistent inflation lead the Fed to maintain high interest rates, slightly restraining the upward momentum of gold prices.

Overall, this correction is part of a consolidation phase during the upward trend. The safe-haven attribute and long-term central bank gold-buying logic remain solid, with the overall gold price showing a sideways to bullish tendency. After a short-term pause, there is still potential for a rally. Once resistance is broken, the upward space will further open.

Trading suggestions:
Pull back to 4515-4525 to buy, target 4550
Rebound to 4540-4550 to $BTC sell, target 4515