Gold Price Focus Today: $5185Gold vs US DollarPEPPERSTONE:XAUUSDIsabella_GoldenTeamGold Price Focus Today: $5185 Over the weekend, escalating conflict between Israel and Hezbollah in Lebanon sparked market concerns about further deterioration, leading to a surge of safe-haven demand in the oil and gold markets. Although negotiations resumed over the weekend, the US debt ceiling impasse remains a focal point of contention between the two sides regarding budget cuts. Failure to reach an agreement before the June 1st deadline will increase the risk of a technical default, pushing up the price of gold as a hedge against economic downturn. US PMI Data Exceeds Expectations: The preliminary May Markit Manufacturing PMI, released last Friday, returned above the 50-point threshold, and the Services PMI also exceeded expectations, indicating continued resilience in the US economy and reducing demand for gold as a recession hedge. Technical Analysis: Support Levels: The first support level is at 5145 (the previous minor consolidation low), with strong support at the psychological level of 5100 and the lower trendline of the ascending channel (approximately 5080). Resistance Levels: The first resistance level is at 5185 (a densely traded area on the hourly chart), and the strong resistance level is at 5230 (historical high). Specific Trading Strategies and Analysis Core Logic: The current battle between bulls and bears is intense. Fundamentals (geopolitical risks, debt ceiling) are bullish, but technicals (high-level death cross, hawkish stance of the Fed) are bearish. It is recommended to trade within a range, buying low and selling high, with strict stop-loss orders. Strategy 1: Short-Term Swing Trading Strategy (Suitable for intraday trading or 1-3 trading days) Strategy Name: Buy Low, Sell High, Range Trading Trading Suggestions: Short Selling Strategy: Entry Point: When the price rebounds to the 5180-5190 area and shows signs of stagnation (e.g., a long upper shadow), establish a small short position. Stop Loss: Set above 5210. Target: 5145; if it breaks through to 5110, continue holding. Long Strategy: Entry Point: Establish a small long position after the price retraces to and stabilizes in the 5120-5130 area. Stop Loss: Set below 5100. Target: 5170. If it breaks through, continue holding, with targets at 5195-5200-5300. Trading Analysis Summary: Currently, gold is priced at $5164, a key confluence of bullish and bearish trends. If it fails to rebound to $5180 today, it may test the support level at $5145. Considering the upcoming US Personal Consumption Expenditures (PCE) inflation data (the Fed's preferred indicator) this week, the market is expected to remain cautious before the data release, with prices likely to remain in the $5130-5190 range. Risk Warning: Geopolitical Situation: If the situation in the Middle East suddenly escalates, gold prices may immediately break through technical resistance levels; short positions should be stopped out immediately. Debt ceiling negotiations: Any significant progress or breakdown in the negotiations will trigger sharp fluctuations in gold prices.