In the early session, gold prices opened slightly lower, and the current price is hovering around the 4,080 level. The hourly chart has seen consecutive bearish closes, breaking below the prior consolidation range; the 4-hour K-line has remained under sustained pressure below the short-term moving averages. The market has sent clear signals of weakening, and overall short-term bears are in control.

The key short-term resistance zone is 4,110–4,130. The first support is set at 4,050, the prior swing low. If support is broken effectively, the downside room will extend to the 4,020–4,030 area.

All eyes in the market are on the U.S. June CPI data on Tuesday night, which is the key catalyst determining gold’s short-term direction. The market broadly expects inflation to remain resilient; once the data comes in above expectations, the U.S. dollar and Treasury yields will strengthen in tandem, and gold bulls will remain under pressure, with no substantial rebound likely.
$BTC $GT
Gold: range 4,090–4,110, first target 4,055. If it breaks through, you can reduce positions and hold; watch 4,040 and 4,020 below.