#Gate广场五月交易分享 Today's gold continues its upward trend
Yesterday, gold just bottomed out and rebounded, and today (May 1st) it continued to fluctuate and rise, with the international gold price reaching close to $4,630. Although the increase wasn't too large, it stabilized the situation. Many people are curious, why can gold continue to rise today? Actually, there are three reasons:
First, Japan intervened in the foreign exchange market, causing the dollar to weaken. We all know that gold is priced in US dollars. When the dollar weakens, gold becomes more valuable, and naturally more people buy it;
Second, gold had fallen too sharply before, and many people felt it was at a low point, so they took the opportunity to buy the dip. Plus, May 1st is traditionally a wedding season, with many people purchasing physical gold, which also supported the gold price;
Third, global central banks are still continuously buying gold. This is a long-term support. Even if some institutions occasionally sell a little, it won't affect the overall trend, so gold prices can gradually rebound.
However, it’s important to note that the bulls and bears are still competing, and the rebound strength is limited. It hasn't broken through key levels, so don’t be too optimistic. Let’s focus on the remaining days of the May Day holiday, which everyone cares most about! During the holiday, international gold mainly fluctuates within a range, with no big rise or fall. Because many institutions are on holiday, trading is sparse, and gold prices are likely to swing between $4,580 and $4,650. The support at $4,550 is quite solid and unlikely to break. There is also resistance to upward rebounds, affected by expectations of a strong dollar and institutional reduction of holdings. It’s difficult to surge above $4,700 all at once. It’s good to keep this in mind. Another key reminder: today’s rebound is just a correction after a significant decline, not a sign that gold will surge again. Short-term, there may still be oscillations and adjustments, but it’s definitely not a trend reversal. Remember, global central banks are still stockpiling gold, geopolitical tensions are not settled, and the de-dollarization trend hasn't stopped. These core factors supporting gold’s rise are still in place, and the long-term trend remains upward.
Finally, let’s talk about the recommendations for the May Day holiday, which is what everyone needs most!
First, don’t stare at the gold price every day. Take a good rest during the holiday and don’t get anxious over small short-term fluctuations; it’s unnecessary;
Second, absolutely avoid blindly chasing highs. The rebound strength is limited now, and chasing high can easily lead to being trapped. Also, don’t panic sell. If you hold gold, just hold it peacefully. Short-term oscillations won’t affect the long-term trend;
Lastly, stick to a long-term allocation strategy. Avoid frequent trading, plan your holdings reasonably, and after the holiday ends, when gold stabilizes within the range, the upward trend will resume. Ordinary people should stay calm and approach it rationally.
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