Guo Shengxin:5.10Analysis of the latest gold market trend

　　goldMarket trend analysis;

Wednesday（5month10In the European market, spot gold fluctuated in a narrow range and traded in2026.15dollar/Around the ounce, most of the overnight gains were held. Tuesday's Gold Price Rise0.65%For two consecutive trading days of gains, as Biden and senior congressional debt ceiling negotiations did not break the deadlock, providing safe haven support for gold prices. US President Biden and senior members of Congress raised their awareness on Tuesday31.4The face-to-face talks on the trillion dollar debt ceiling have failed to break the deadlock, and in three weeks, the United States may be forced into an unprecedented debt default. However, Biden and senior congressional officials will meet again on Friday to continue the discussion, and both sides strongly emphasize that the United States will not default on its debt. Biden stated that the meeting with Republican leaders on the debt ceiling issue was "productive". In addition, the Federal Reserve's "number three" and New York Fed Chairman Williams stated that inflation remains high, making it premature to judge whether the interest rate hike is over. This also provides support for the US dollar index and US bond yields, with the US dollar index rebounding for two consecutive trading days,10The yield of one-year US Treasury bonds also held up the gains of the previous two trading days, causing bullish gold to be cautious. Overall, due to the risk of debt default, banking turmoil, and international geopolitical turmoil in the United States, gold prices are still supported by safe haven buying. The expectation of the Federal Reserve's interest rate cut this year is also supporting gold prices in the medium to long term. However, in the short term, the US dollar and US bond yields have rebounded steadily, and US inflation remains high,CPIThe data may dampen the Federal Reserve's expectation of a significant interest rate cut this year, which may bring some downward pressure on gold prices in the short term.

Technical analysis of gold; Gold rebounded from the small positive line yesterday and stabilized at2000The integer level has rebounded, but the key support level has not been missed in the short term, making the sustainability of the space weak. The short-term uncertainty of the US dollar is uncertain, and the changes in yin and yang have temporarily prevented gold from moving out of one side. Whether it is currently confirming resistance by touching high or a strong recovery of lost ground remains to be confirmed. In the process of market consolidation, there are often times when there is a double dip, with the focus on whether to recover the high point or break down after reaching the high point2000Pass, construct a daily level two wave decline. At present, it is still in the process of morphological construction, and before breaking through in operation, it is treated with a high level oscillation approach.4The hour chart is stable2000Slowly rebounding and recovering above the level, there are signs of testing high points again in the short term. Looking back at the bullish and bearish changes in the form, will the pressure continue to accumulate momentum after reaching higher or will it continue to rise further. The short term may be accompanied by volatility, and the uncertain strength of the US dollar also makes it more difficult for gold to choose its direction in the short term. It will accompany the way of washing dishes and sawing. Breaking high up2078There is still a certain distance left, and we are currently breaking down2000There is also a certain distance, with the short line sweeping back and forth between neutral positions. Pay attention to the rhythm of the washing period and grasp the high altitude and low altitude within the interval. Overall, in terms of the short-term operation strategy for gold today, Guo Shengxin suggests that the main focus should be on rebound short selling, supplemented by a pullback long selling, with a focus on short-term trading above2044-2050Frontline resistance, short-term focus below2010-2016Frontline support.