Market News

U.S. inflation data remains resilient, and market expectations for a Fed rate cut have been pushed back again. The dollar and U.S. Treasury yields have slightly rebounded, limiting the upside potential of gold prices; the Middle East situation has not shown new signs of escalation, and safe-haven funds are temporarily exiting the market, with the previous upward momentum quickly fading. However, global central banks continue to buy gold to support prices, limiting the downside space for gold, and the consolidation pattern remains difficult to break.

Currently, gold is in a oscillating downward pattern, with a short-term rebound after touching support, but the rebound is weak and lacks continuity. On the daily chart, it shows alternating bullish and bearish movements, with the 20-day moving average supporting at 5120; MACD is shrinking in a bearish trend, RSI is neutral, with no clear trend, indicating a range-bound consolidation. On the hourly chart, the stochastic indicator and MACD are both showing weakening momentum and downward oscillation; short-term resistance is around 5155 and 5175, with resistance at 5180 during the European session; strong resistance at 5190-5200 (the dividing line between bulls and bears), support at 5120; strong support at 5100 (a break below opens further downside). During the European session, prices are oscillating at high levels, mainly repairing losses before facing pressure, with no strong directional move. Focus on the breakout of 5120-5180.

Gold Trading Strategy: Buy short-term on dips around 5125-5130, with a stop loss at 5105, target 5160-5170. Use a small position size with strict stop-loss.

Disclaimer: The above content is for personal ideas and opinions only and does not constitute trading advice.