张尧浠：金价维持震荡调整趋势、关注回踩支撑再度看涨

Core Viewpoint - The gold market is experiencing a volatile adjustment trend, with a focus on potential support levels for a bullish outlook in the near future [1][4][7]. Group 1: Market Performance - Last week, international gold prices fluctuated, starting at $3349.33 and reaching a high of $3438.67 before dropping to a low of $3325.05, ultimately closing at $3338.50, reflecting a weekly decline of $10.83 or 0.32% [1]. - The market saw a significant weekly volatility of $113.62, indicating a turbulent trading environment [1]. Group 2: Technical Analysis - The gold price is currently facing strong technical resistance, which has contributed to its recent decline [3][4]. - The monthly chart indicates a potential bearish trend, with risks of a drop to $3000 or $2500 if the upward trend support is broken [9]. - However, the overall bullish trend remains intact as long as prices stay above the 5-month moving average and within the previous upward trend channel [9]. Group 3: Fundamental Factors - Optimism surrounding trade agreements and the potential for interest rate cuts by the Federal Reserve are influencing gold prices, with expectations of a bullish market during the rate-cutting cycle [7]. - The market anticipates that the Federal Reserve may need to implement more aggressive easing policies than currently predicted, which could further support gold prices [7]. - The geopolitical landscape and ongoing trade negotiations between the U.S. and China are critical factors that could lead to either a rebound in gold prices or further declines depending on the outcomes [4][6]. Group 4: Support and Resistance Levels - Key support levels for gold are identified at $3324 and $3304, while resistance levels are at $3340 and $3357 [11]. - For silver, support is noted at $37.80 and $37.40, with resistance at $38.45 and $38.70 [11].