6.17 Clear Wind Midday Gold Analysis

The overall market remains in a wait-and-see mode, with all attention focused on the Federal Reserve’s June interest rate decision at 02:00 and the Chair’s subsequent remarks. During the daytime session, there is a lack of directional movement; overall, price action is mainly characterized by range-bound consolidation.

The US dollar and US Treasury yields have modestly stopped falling and stabilized, which raises the holding cost of non-yielding assets such as gold. Tensions in the Middle East have eased somewhat, causing safe-haven demand to quickly cool off. Combined with capital being diverted and liquidity flowing into other parts of the capital markets, the bulls lack the momentum to push higher, and the gold price faces relatively strong rebound resistance above.

After the Asian session surged and reached the 4350 level, buy pressure at high prices weakened due to US session data “Zhen Kun.” The “dou tou” main forces that had been picking the bottom earlier concentrated on taking profits and closing positions, triggering a chain reaction of stop-outs and technical deleveraging. As funds entered during the European session, the bulls “dou” above 4320 resumed trading and position switching, waiting for fresh geopolitical catalysts.

Trading reference: Buy “dou” on 4300–4320, target 4345–4355