6.5 Morning Gold Outlook


Spot gold is currently quoted at $4,480, having surged to $4,515 yesterday before facing resistance and pulling back, with a slight increase of 0.12% intraday, and the day remaining narrow-range consolidation.

From the news perspective, the U.S. May unemployment rate non-farm data is about to be released tonight, and market sentiment is cautious; U.S. stocks surged significantly, diluting the safe-haven demand for gold, the U.S. dollar index is consolidating, and the long positions driven by previous safe-haven sentiment are mainly taking profits, limiting the rebound of gold prices.
On the technical side, the 1-hour and 30-minute charts show gold prices holding steady above short-term moving averages, with dense support at 4478 points. The ATR indicator continues to decline, market volatility narrows, and the short-term oscillation range is 4472-4482.

Yan Yan's trading strategy: Short-term buy on dips around 4470-4480, targeting #黄金、 4490-4502.
PAXG-1.5%
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