Gold European Session Analysis: Geopolitical positives turn into pressure, European session brewing signals of a trend reversal

Although the breakdown of US-Iran negotiations increases geopolitical risks, which theoretically benefits gold, rising oil prices intensify inflation concerns, thereby delaying the Federal Reserve's rate cut expectations. The US dollar and Treasury yields rise in tandem, completely suppressing gold's safe-haven attributes. After an early gap-down opening, the rebound is weak, and gold prices remain under pressure.

The strong impact of non-farm payroll data has not yet faded, and with tomorrow's CPI data release imminent, market sentiment is becoming cautious. Tonight's European Central Bank rate decision will be the key turning point for the market's bullish or bearish direction.

Currently, the geopolitical situation only provides a bottom support for gold prices and is unlikely to trigger a one-sided rally. Overall, European session remains volatile and weak, with rebounds facing pressure; avoid blindly chasing bottoms or longs.

Still, the main theme now is that rebounds are for shorting, follow the overall trend, and you'll be on the right track!

Personal opinions are for reference only; investing involves risks, trade cautiously!