5.7 Gold Evening Review

On Thursday, gold prices surged strongly during the day, stabilizing at 4685 in the morning, then rising to 4753 in the afternoon, with nearly $70 of volatility intraday. After the peak, prices slightly retreated and maintained high-level oscillations, with the bulls dominating the market, but short-term upward momentum has weakened.

This round of rally was supported by expectations of Federal Reserve rate cuts, a weakening dollar, and geopolitical safe-haven demand. However, short-term profit-taking sentiment has increased, combined with differing policy expectations, limiting the short-term upward space for gold prices.

From a technical perspective, the 4-hour W-bottom breakout and stabilization above 4700 indicate the bullish trend remains unchanged; the 15-minute indicator is overbought, showing a slight pullback need. Resistance is at 4753, support is at 4715‑4720.

Trading suggestion: Buy in stages on dips around 4715‑4735, targeting 4755‑4765, with a view to reaching 4800. Use light positions with stop-loss, and be cautious about chasing high tonight. #黄金