TechFlow News, May 7: XS.com analyst Linh Tran stated in a commentary that gold prices may need a clear breakout above the $4,730–$4,750 per ounce range to sustain a strong upward trend. With the U.S. dollar and U.S. Treasury yields weakening, gold appears poised for short-term gains. However, if gold fails to break through this resistance level, it could revert to a range-bound trading pattern. The upcoming U.S. nonfarm payrolls report may serve as a key catalyst; weaker-than-expected data could bolster support for the Federal Reserve shifting toward a more dovish stance, thereby boosting gold prices. (Jinshi)
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