Next week (May 18–22) the overall outlook for gold is: first suppressed, then choppy consolidation; bearish bias dominates, with limited room for a rebound. Core range for international gold prices: $4,450–$4,580 per ounce; Shanghai gold: 990–1,015 RMB per gram.


⚠️ This forecast is for reference only and does not constitute investment advice.

Higher interest rate expectations weigh down the market + the US dollar is relatively strong + a technical breakdown; the rebound is most likely a bull trap, and it’s difficult to change the bearish structure.

Key support: $4,500 per ounce (strongly defended). If it breaks effectively, look at $4,450/$4,420. Strong resistance: $4,600/$4,630 per ounce.

Key levels
Strong resistance: $4,600, $4,630 per ounce

Core consolidation: $4,500–$4,580 per ounce

Strong support: $4,450, $4,420 per ounce

Trading and positioning ideas
Short-term: Mainly short rallies. Sell in batches at $4,580–$4,600; stop loss above $4,630. Target $4,500; if it breaks, look at $4,450.

Mid-term: Stay on the sidelines or set up long positions with a light allocation. Try buying in batches in the $4,420–$4,450 range; stop loss below $4,400. After breaking above $4,600, target $4,700.
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