6.2 Wenjie Spot Gold Morning Outlook

News
Overall, bulls and bears are intertwined, with a bias toward downward pressure. The US dollar and US Treasury yields remain high, and the market's expectation of high interest rates continues to suppress the upward space for gold; however, Middle Eastern geopolitical risks persist, combined with central banks' ongoing gold purchases, keeping the support below gold prices stable. The overall pattern shows upward pressure from above and difficulty in deep declines from below.

Technical
The daily chart shows a rally followed by a decline and a bearish close, with obvious selling pressure at high levels, entering a short-term correction phase from high levels. Short-term cycles are weak and volatile, with limited rebound strength.
Key resistance: 4490–4500 (intraday dividing line between strength and weakness)
Key support: 4450 in the short term, 4420–4400 strong support

Trading Ideas
Focus on shorting on rebounds within the day, with resistance at 4490–4500. You can short on a rebound, #现货黄金 targeting 4470–4450.