Bearish pressure (short-term dominance)



• Federal Reserve policy: U.S. inflation remains sticky, market delays rate cut expectations, high interest rates suppress gold prices.

• US dollar and US bonds: US dollar index strengthens, 10-year US Treasury yields remain high, bearish for gold.

• Technical breakdown: Break below the 200-day moving average, bullish confidence is shaken, triggering algorithmic sell orders.

Bullish support (medium to long-term bottoming)

• Central bank gold purchases: Continuous accumulation, setting a record high, forming a bottom support.

• Geopolitical safe-haven demand: Risks in the Middle East, Red Sea, and others persist, supporting safe-haven demand.

• De-dollarization: Restructuring of international reserves, increased gold status, long-term positive outlook.

IV. Technical aspects (key levels)

• Resistance: $4,340/$4,360 (short-term selling pressure), $4,380 (strong resistance).

• Support: $4,230 (trend line), $4,100 (strong support), $4,000 (psychological level).

• Pattern: Daily chart shows a bearish arrangement, 4-hour chart exhibits low-level oscillation, short-term weak. #Gate直通IPO认购SpaceX
USIDX-0.05%
GLDX-3.54%
PAXG-3.48%
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