From the fundamental market perspective, the strengthening of the US dollar combined with rising US Treasury yields continues to put significant pressure on gold. The market is constantly lowering expectations for Federal Reserve rate cuts, which increases the holding cost of the non-yielding asset gold, directly suppressing the upward momentum of gold prices.



In the short term, gold will remain under pressure and weak, with the first key resistance at around 4550, and the initial support at 4480. If the bearish momentum continues to dominate, gold prices may further decline to the 4430 level.
$XAU $RAVE $LAB
PAXG0.62%
RAVE50.93%
LAB0.74%
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