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Gold closes weaker again, during the short Dragon Boat Festival holiday, feeling anxious on Monday's opening
On Friday, gold remained in a downward trend all day, surging in the morning then oscillating downward, finally showing a small rebound during the session, but it didn't last long before falling back again, with a daily decline close to 1.8%, and the overall market still lacking confidence.
After several months of decline, having stepped into many rebound traps before, seeing a slight recovery, I couldn't help but act, but most of the time I ended up getting caught again. After experiencing a few losses, I am now much more cautious about small fluctuations. The Dragon Boat Festival is just a short holiday, and the external markets won't close, so uncertainties are always present. The market hasn't truly stabilized, so I haven't dared to change my positions casually during this period.
The holiday isn't long, but the weak market trend hasn't improved. On Monday's opening, there will definitely be significant pressure. Many retail investors tend to make the same mistake—mistaking temporary intraday rebounds for trend reversals. In a declining market, these fluctuations can't change the overall situation.
During a weak phase, controlling impulsive trading is much more important than constantly seeking entry opportunities. It's better to miss short-term gains than to recklessly move positions and take on unknown risks.
I'd like to ask everyone, during these days of the Dragon Boat Festival, will you be closely watching the external gold price movements?