July 29 Wanxin Midday Analysis:

The AI boom may trigger global credit market risks. Although it sounds like a risk, the market is currently more of a valuation game in tech stocks, and there hasn’t been large-scale capital flowing back into gold as a safe haven.

The morning long from 4011 pulled a move up to 4037.7, but it always misses the 4040 target by a margin, indicating that sell pressure overhead is indeed heavy. Conversely, the 4045 short order also hasn’t been strongly broken through, suggesting the bulls lack confidence. The current candlestick pattern is a typical “pressure above and support below.”

Gold: Short-entry at 4010-4000 area
Target 4050-4070

This does not constitute any investment advice; only personal views.