GOLD: The Short-term Upward Trend Remains Unchanged

1.

$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2508(GCmain)$ Technical Analysis: Gold prices (XAU/USD) have maintained an overall upward trend, currently testing the key resistance level at 3,365 USD. If this level is effectively broken, it could open up further upside potential, with targets at 3,400 USD or even 3,435 USD.

On the daily chart, the MACD remains in a positive divergence, with momentum indicators showing that buying activity remains strong, suggesting a short-term bias towards further gains. Conversely, if gold prices encounter resistance around the 3,370-73 level, they may pull back to the 3,340 USD support zone, with further support levels at around 3,326 and 3,300 USD, which are still viewed as potential areas for bottom-fishing.

Overall, as long as gold prices remain above 3,300, the short-term upward trend remains unchanged! Gold prices are still in a consolidation phase ahead of a key breakout. Market sentiment is currently influenced by the upcoming U.S. CPI data. If inflation slows, it will strengthen expectations of the Federal Reserve cutting interest rates, opening up upside potential for gold.

However, if the data is strong and tariff impacts are confirmed to have driven up inflation, gold prices may come under pressure and decline. Therefore, the 3,370-73 level will become a crucial dividing line in the short-term battle between bulls and bears in the gold market. Closely monitor the market's pricing reaction and the synchronised movement of U.S. Treasury yields following the data release.

Today's trading range is expected to be between 3,340 and 3,390! Maintain a buy-side trading strategy/

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2.

After the European market opened, gold remained in a narrow range in the short term, with multiple unsuccessful attempts to break through resistance levels. This indicates that there is resistance above, but the short-term upward trend remains unchanged. Continue to monitor the resistance level around 3370-73.

Strategy: Sell: 3365-68 TP: 3348-50 SL: 3376.5

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