张尧浠：多空因素反复交错、金价维持宽幅震荡待走强

Core Viewpoint - The gold market is experiencing a wide range of fluctuations, with a tendency to maintain a sideways movement before potentially strengthening in the future [1][10]. Group 1: Market Performance - Gold prices opened at $3,239.69 per ounce and recorded a weekly low of $3,237.44, followed by a strong rally that peaked at $3,437.84 before retreating [1]. - The weekly closing price was $3,328.85, with a weekly range of $200.4 and a gain of $89.16, representing a 2.75% increase [1]. - The market is currently in a sideways trading range, with bullish support expected to hold [3][9]. Group 2: Influencing Factors - Technical buying signals and geopolitical tensions, such as the India-Pakistan situation and the U.S. trade deficit reaching a record $140.5 billion, have contributed to gold's price movements [3][8]. - The Federal Reserve's decision to maintain interest rates and a hawkish tone in statements have influenced market sentiment, leading to a temporary decline in gold prices [8][10]. - Recent developments in U.S.-China trade negotiations and a ceasefire agreement between India and Pakistan have further impacted gold's appeal as a safe-haven asset [8][10]. Group 3: Future Outlook - The current trading range for gold is expected to continue, with potential for a rebound if it holds above key support levels [9][15]. - The market anticipates that any easing of trade tensions could lead to downward pressure on gold prices, while ongoing concerns about economic growth and inflation may sustain interest in gold [10][12]. - The technical outlook suggests that gold must break above $3,500 to target higher levels, while a failure to do so may lead to a prolonged period of consolidation [12][14].