金荣中国：现货黄金延续弱势并一度刷新近一个月低点，目前交投于3296美元附近

Fundamental Analysis - Gold prices continued to weaken, reaching a near one-month low of approximately $3,291, with current trading around $3,296. The price closed at $3,327.60 on Thursday, reflecting a decline of about 0.13% [1] - The easing of geopolitical tensions in the Middle East has diminished gold's appeal as a safe-haven asset, contributing to the recent price drop. Market expectations suggest that the Federal Reserve may initiate rate cuts in September, potentially lowering rates by a total of 50 basis points this year, which could support gold prices in a low-interest-rate environment [1][3] - Mixed economic data has cast a shadow over market outlooks, with Q1 GDP revised down to a contraction of 0.5% and consumer spending growth adjusted from 1.2% to 0.5%. Additionally, initial jobless claims have risen to the highest level since November 2021, indicating a slowdown in hiring due to tariff policies and economic uncertainty [3] - The yield on U.S. Treasury bonds has decreased, with the 10-year yield falling to 4.25% and the 30-year yield to 4.811%. The steepening yield curve reflects concerns about long-term inflation pressures and is linked to a weak labor market and rate cut expectations [3] - Federal Reserve Chairman Jerome Powell reiterated a wait-and-see approach regarding the impact of tariffs on inflation. Market expectations for a September rate cut exceed 90%, while July's cut probability stands at only 20%, highlighting the importance of upcoming PCE data as a potential catalyst for gold price fluctuations [3][4] Technical Analysis - On the daily chart, gold prices recorded a small-bodied close, indicating a potential challenge below the $3,290 level, with risks of testing around $3,250 if this support is breached [5] - The short-term trend has seen prices retreat from a high of $3,450, with recent trading showing weakness as prices tested $3,350 before declining to current levels around $3,291 [5] - Traders are advised to monitor the $3,310 level for potential short positions, with support levels noted at $3,290 and $3,255 [5]