June 9 Gold Morning Analysis

Yesterday, gold prices showed a rebound and pullback trend, rising to around 4353 at one point during the session but failing to stabilize, then oscillating lower, dropping to around 4268, maintaining a low-range consolidation overall! Previously, the strategy of shorting on rebounds successfully reached the take-profit target!

From a fundamental perspective, market expectations for interest rate hikes by the Federal Reserve and the Bank of Japan are heating up, pushing the US dollar and US Treasury yields to stay high, continuing to suppress gold's rebound! However, global central banks are still increasing their gold holdings, which to some extent provides a bottom support for gold prices, preventing sharp declines!

On the technical side, the 1-hour and 4-hour charts show that the moving average systems remain in a bearish arrangement, and the short-term trend still leans weak. Resistance levels to watch are 4340 and 4360, with stronger resistance at 4380; support levels are first at 4300 and 4280. If the price continues to weaken, focus on the key defense zone at 4260!

In terms of trading, it is recommended to mainly short on rebounds during the day, with small long positions at lower levels. If gold rebounds to the 4345-4360 area and encounters resistance, consider short positions targeting 4300 and 4280; once support levels are broken consecutively, the price may further test the 4250 level! #黄金 $XAUT