7.28 Gold evening analysis

Market attention is focused on the Fed’s rate decision and US economic data. With major news on the way, sentiment is cautious and gold lacks sustained upside momentum; in the evening, it is likely to remain in a range-bound market.

In the afternoon, the gold price rebounded to 4051 but met resistance and pulled back. The rebound strength was insufficient, and there is heavier sell pressure above. The price has been unable to hold above the resistance level for a long time; the bears still hold the advantage, and the evening outlook leans toward range-bound but weakening.

Wait for a rebound at 4038-4048 to place short orders. Targets: first look at 4020, with further downside toward 4005-3998.

Hint:
The above analysis is my personal view. Markets can change rapidly; this content is for reference only and does not constitute any investment advice!
$XAUT