On May 29, the gold market is currently influenced by a mix of bullish and bearish factors, with price movements heavily dependent on news-driven catalysts. On the supportive side, rising global stagflation risks, the persistent long-term gold-buying trend by central banks, resilient physical demand from China, and a weakening US dollar and Treasury yields continue to underpin gold prices. Conversely, potential headwinds include a significant cooling of geopolitical safe-haven and inflation-hedging demand should a formal US-Iran ceasefire materialize, alongside the enduring constraint of a high-interest-rate environment on gold's upside potential. Should an agreement be approved and lead to eased tensions in the Middle East, gold prices are likely to face downward pressure, with a key focus on the strong support level around $4360. If the agreement stalls and geopolitical conflicts escalate anew, gold is poised to break through the $4500 mark, initiating an upward rebound.
In the long term, gold's core value as a hedge against inflation and geopolitical risks remains intact. Short-term rangebound fluctuations may present a favorable window for medium- to long-term positioning. Operationally, prioritizing risk management and following the momentum driven by news and technical rhythms is essential.
Specific operational strategies: Short Strategy: Monitor the $4530-4540 range. If this resistance holds, consider分批参与做空摸顶 (participating in short positions in batches to test the top), with a stop-loss set above $4550. If prices break strongly above $4540, wait for the $4570-4580-4600 zone to分批摸顶 (test the top in batches) again, while placing反向空单防守 (reverse short orders for防守, likely meaning defensive hedging) to guard against false breakouts and reversals. If gold rises to $4540, one may gradually尝试开仓分批抄顶做空 (attempt to open positions in batches to short the top), leveraging profits accrued this month to manage risk.
Long Strategy: Await a pullback to the $4480-4470 range. If support holds, directly参与做多 (participate in long positions), with a stop-loss set below $4460. Place a破位多单 (breakout long order) at $4500 for defensive pursuit; if the breakout is effective, follow the trend. In case of an excessive sell-off, watch the $4440-4420 range. If support remains intact, consider做多 (going long) again, with a stop-loss set below $4400.