6.10 Gold Morning Market Analysis

Yesterday, gold prices generally performed weakly, with rebounds during the Asian and European trading sessions unable to gain momentum, maintaining a narrow range at high levels. After entering the U.S. session, bearish forces were fully unleashed, and prices continuously broke through multiple support levels, with the lowest touching around 4119.07. The daily chart ultimately closed with a large bearish candlestick! The previous rebound gains were mostly wiped out, and market sentiment has shifted back toward the downside!

From a fundamental perspective, the safe-haven demand for gold continues to cool down, with clear signs of capital withdrawal. Meanwhile, market expectations that the Federal Reserve will maintain high interest rates have strengthened, and the dollar index remains firm, exerting continuous pressure on gold prices! This week, the market will release key data such as CPI and non-farm payrolls. With a lack of short-term bullish catalysts, the trend is expected to mainly fluctuate downward!

Although there are new localized conflict news in geopolitics, temporarily boosting safe-haven sentiment, there is still room for dialogue between the parties. The possibility of escalation into large-scale conflict is low, and the impact on gold prices is limited to short-term rallies, unlikely to change the current downward trend!

Intraday trading reference:

If gold prices rebound to the 4220-4240 area, consider gradually building short positions, with support targets around 4180 and 4150! #黄金 $XAUT