5.7 Evening Gold Market Analysis - Shiyuan's View



Gold is currently in a medium-term uptrend. After a short-term spike higher, its momentum has clearly slowed, and it has entered a high-level consolidation phase. Resistance is seen above at the 4750-4770 zone and the 4790 high; if it fails to break through, a high-level correction structure will form. The key support below is at 4700-4680; if this level is lost, the room for further correction will widen, with additional support further down at 4650-4630.

Signs of waning momentum at the 4-hour timeframe have appeared. In the short term, it is not recommended to chase highs blindly; it is better to stay on the sidelines and wait, then respond after a pullback to key support levels.
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