闫瑞祥：黄金3300为短线分水岭，欧美早盘低点成关键

Macroeconomic Overview - Last Friday, spot gold experienced a significant decline of 2%, reaching a nearly one-month low, with a weekly drop of 2.8%, marking two consecutive weeks of losses [1] - On Monday, gold prices showed resilience by rebounding after hitting a low, indicating a market struggle between risk aversion and risk appetite [1] - The upcoming U.S. non-farm payroll report is anticipated to be a key factor influencing market sentiment [1] - The U.S.-China rare earth trade agreement and the G7 tax agreement have boosted global stock markets, diminishing gold's appeal as a safe haven [1] - Economic data, including a decline in U.S. consumer spending due to tariff policies, has intensified expectations for a Federal Reserve rate cut, with a 92.5% probability for a cut in September [1] - Geopolitical tensions, such as the situation in Iran and Israeli strikes in Syria, have heightened risk aversion, providing long-term support for gold prices [1] Dollar Index - Last Friday, the dollar index showed a downward trend, with a high of 97.479 and a low of 96.966, closing at 97.228 [2] - The market experienced a slight rebound in the morning but faced pressure later, ultimately closing with a bearish candlestick [2] - The weekly analysis indicates resistance around the 99.40 area, suggesting a bearish outlook for the dollar index in the medium term [2] - Key support levels to watch include the 96.50 area, which is the lower edge of a downward channel [2] Gold Market - Last Friday, gold prices overall declined, with a high of 3327.78 and a low of 3255.68, closing at 3274.43 [4] - The market tested weekly support levels, resulting in a bearish weekly close [5] - The focus for short-term trading is on the 3300 level, which is critical for determining future price movements [7] Euro/USD - Last Friday, the Euro/USD pair showed an overall upward trend, with a low of 1.1680 and a high of 1.1753, closing at 1.1719 [6] - The market is expected to maintain a bullish outlook, supported by the 1.0850 level on the monthly chart [6] - Key resistance levels to monitor include 1.1710, which is crucial for short-term trading strategies [6] Economic Data and Events - Key economic data and events to watch include the European Central Bank forum, UK GDP, Swiss KOF economic leading indicators, and U.S. Chicago PMI [9]