May 7, 2026 Spot Gold Morning Analysis

Yesterday, the spot gold market experienced extremely intense fluctuations, with an overall single-sided increase of over 170 points. During the U.S. session, volatility slowed down, and the trend became more stable, but the tug-of-war between bulls and bears remained fierce.

This morning, gold prices are maintaining a high-level oscillation around 4700, and a short-term single-sided trend requires further news-driven stimulation to initiate.
From a technical perspective, the 4-hour moving averages remain in a bullish alignment, and the RSI indicator is in a neutral zone, with bulls and bears temporarily in a tug-of-war.

Key resistance above gold prices is at 4720, with strong resistance at 4750; short-term support below is at 4680, with strong support at 4660.

Overall, the morning gold price is likely to continue its high-level oscillation and consolidation.
In terms of trading, it is recommended to rely on the resistance levels at 4720 and 4750 to establish short positions, with targets sequentially at 4680 and 4650.
The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific strategies! $BTC $ETH $XAUT