The Fed's interest rate decision will be held on Wednesday. The market expects that the wording may be hawkish. The rise in the US dollar and US Treasury yields has significantly suppressed gold prices; despite strong safe-haven demand and central bank buying, gold prices have risen for the third consecutive month. It rose 2.8% in April to a record high of $2,431.29. As US data showed rising employment costs, indicating that inflationary pressures persisted, gold prices fell sharply below the $2,300/ounce mark. In addition to the strengthening of the US dollar caused by US economic data, there were reports that Israel was preparing to send a delegation to Cairo to participate in the Gaza ceasefire negotiations, which weakened gold's safe-haven buying and dealt a blow to gold prices.
On the whole, today's short-term gold operation thinking is still to focus on rebound and short selling. The top short-term focus will be on the 2300-2310 first-line resistance, and the bottom short-term focus will be on the 2270-2275 first-line support. For intraday operations, you can refer to the 2295-2300 area for short entry orders.