June 3rd Gold Morning Outlook

Gold crashes 54 points! The ADP pre-market shows bulls and bears have already revealed their hand, with 4480 as the critical threshold!

From the news perspective, today’s main focus is on the U.S. May ADP employment data released tonight (market expectation: 117k jobs). Previously weak employment data had boosted expectations of rate cuts, which was positive for gold. However, Trump’s vulgar attack on Netanyahu, along with rising expectations for U.S.-Iran talks, caused a large-scale withdrawal of safe-haven buying; at the same time, U.S. Treasury yields slightly rebounded, jointly suppressing gold prices from rising.
Technically, the 30-minute chart’s MA5/10/20 are in a bearish alignment, with prices continuously under short-term moving averages; the 1-hour chart also shows moving averages diverging bearishly, ATR indicator continues to decline, market volatility narrows, and the short-term trend is biased toward sideways downward movement.

Finally, Teacher Yan Yan’s trading strategy: In the Asian session, watch for a range of 4480-4500 for consolidation. Rebound short positions at 4498-4502, gradually short in this zone, with targets at 4485-4480 before the ADP data release. Strictly keep a light position and set stop-losses to avoid risks. #黄金 #黄金、