July 29 Wǎnxīn Morning Gold Analysis:

Global central banks have been continuously stockpiling gold for the long term. Strong physical buying creates a solid bottom support. At the same time, the market has already priced in expectations of a Fed rate hike in advance; the negative impact has been fully digested. With no new negative catalysts to drive it further down, short positions have limited additional room to fall.

On the 4-hour chart, the gold price has dropped to the lower Bollinger Band. RSI has entered an oversold range, and short-term rebound demand is clear. The 4000 level has strong support.

Gold rebound: around 4000-4010
Target: around 4040-4070 #黄金