7.29 Gold Morning Report by Jin Ke: Bears firmly control the market! Rally continues for high-short “harvesting”

During the day, gold price fell under pressure from the 4028 peak all the way down. The bears kept pushing, and the lowest dipped to 4013. The rebound momentum was extremely limited, and the overall market still maintained a bearish/weak pattern. $XAU

Fed rate-cut expectations continue to cool down, and combined with the US Dollar Index staying firm at high levels, it has continued to suppress gold prices from the pricing side. Meanwhile, safe-haven buying gradually faded; earlier long positions, which had been concentrated, exited and cashed out, and sell pressure became the dominant force on the screen. $HYPE

Gold price continues to trade below the short-term moving averages. The BOLL bands are opening downward and dispersing, and the MACD indicator shows the rebound momentum is weak.

Set short orders on the rebound within 4030-4050, with targets at 4000 and 3980
#黄金