6.5 Midday Gold Ideas

Non-farm payrolls present a good opportunity! Gold pulls back to gather strength, and it’s the right time to set up long positions at low levels.

From the news perspective, the easing of risk aversion in the Middle East temporarily suppresses gold prices, but as U.S. non-farm payroll data approaches tonight, the market is preemptively betting on weak non-farm data and a weakening dollar, with safe-haven buying gradually accumulating at low levels.

Technically, on the 1-hour chart, gold price has tested and stabilized above the key support at 4424, with short-term oversold conditions deviating from the moving average, ATR indicator declining, and bearish momentum weakening. The support at 4435 is solid, and the downside space is limited.

Finally, Teacher Yan Yan’s trading strategy: in the short term, rely on the 4430-4440 support zone to gradually set up long positions, with an initial target of 4460 resistance. Once stabilized, look higher toward the previous high at 4480.
Warm reminder: The content is for review reference only and does not constitute investment advice. #黄金： #黄金