In the short term, gold is in a delicate phase of “oversold but the bottom hasn’t been confirmed.” From a technical perspective, bearish signals still remain (a death cross, insufficient time for a correction), but an extreme oversold condition, August’s seasonal pattern, and long-term allocation logic provide the groundwork for a rebound.

Most institutions’ consensus is: even if there is a short-term bounce, the medium term may still see pullbacks, and a true trend reversal will require conditions such as sustained inflows into North American ETFs and a consistent downtrend in the dollar and real interest rates.

Let’s talk about gold! Personally, I think we can wait a bit longer$XAU $XAUT $ETH