Gold Market Analysis

I. Fundamental Analysis
1. War between the US and Iran could break out at any time, further fueling global risk aversion demand, which is bullish for gold;
2. Global currency oversupply, with central banks around the world maintaining low interest rates, and expectations of future rate cuts, with inflation expectations remaining unchanged, which is bullish for gold;
3. The policies of the US Trump administration are unstable and unpredictable, with an increased likelihood of sudden events, leading to dollar instability, prompting central banks worldwide to strengthen their currency risk hedging demand, which is bullish for gold.
From a fundamental perspective, the factors driving gold prices higher have not changed, and the long-term upward trend of gold remains intact.
II. Technical Analysis
1. After a sharp rise, gold prices fell significantly, indicating a demand for a rebound; the probability of testing previous highs is very high;
2. In the long term, gold prices are upward, but in the short term, after testing previous highs, there is a high chance of a deep dip before rising again. This is to attract more long positions and lead mainstream views to turn bearish, making it easier for major players to establish long positions.
From a technical perspective, short-term gold prices have a rebound demand, and going long is possible, but caution should be exercised near previous highs.