Core Logic:
1.Macro Drivers: Powell’s dovish remarks continue to reverberate, with U.S. Treasury yields declining, the U.S. Dollar Index breaking below 97, and the debt ceiling extended to July 24 — safe-haven demand props up gold prices.
2.Technical Outlook:
Currently trading in a $3,300-$3,350 range, with shrinking volume reflecting market caution.
Trend Projection:
– Likely to remain range-bound between $3,300-$3,350; a breakout will depend on progress in previously mentioned catalysts.
– If data misses expectations or geopolitical risks (e.g., Iran tensions) escalate, gold may rally to $3,360; otherwise, it could test $3,300 support.
Trading Strategies:
– Long positions: Enter lightly at $3,300-$3,310, stop-loss at $3,290, target $3,340.
– Short positions: Sell on rejection above $3,345, stop-loss at $3,360, target $3,320.
– Risk management: Cap single-trade exposure ≤3% to mitigate data-driven volatility.
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