Gold is clearly strengthening today. Spot gold peaked in the middle of the session at around $4,139, setting a new high in nearly two weeks. The core of the current market remains two drivers: safe-haven demand stemming from the Middle East situation, and ongoing market debate over the Federal Reserve’s subsequent rate path.



Judging from the price action, the prior support near 4,000 has been validated. Funds have moved back in, pushing gold to break above 4,100, and in the short term, the bulls have regained control.

Next, the key levels to watch are:

Support: 4,100 / 4,080 / 4,050
Resistance: 4,140 / 4,160 / 4,200

My view is: as long as $4,100 is not broken down effectively, gold remains mildly bullish in the short term.

If it holds above 4,140—4,160, there is a chance to continue testing 4,200; otherwise, if it falls back below 4,100, traders should guard against profit-taking after a spike. Technically, the market is also watching for further resistance around $4,200.
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MaotaiTownSauceWineKing
· 07-22 14:43
It’s written a lot. You short 😃 yourself.
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ThisIsTranslateContent:All-In
· 07-22 13:17
Copied Doubao?
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