Gold Market Evening Report, July 2

Tonight, the market is overall in a wait-and-see mode, looking to non-farm data to set direction.

Earlier tightening expectations were priced in ahead of time. The US Dollar Index and US Treasuries strengthened, and sell pressure at high gold levels continued to build, leaving the bulls with insufficient momentum. The rebound on the screen lacked strength; follow-through was weak. Even a modest push up met resistance and rolled over—this is a typical bearish, weak pattern.

The daily downtrend for shorts remains intact: it keeps surging higher and then falling back, with no reversal signals. On the hourly chart, after a narrow technical correction following the decline, the market has finished its consolidation but still has room for further downside.

Trading approach:
On the rebound, short in batches at 4095–4120
Targets to watch in order: 4075, 4050, 3925

Market volatility is intense around the data. Use stop-loss orders strictly and maintain a light position for steady, prudent trading. #黄金