张尧浠：黄金再度回踩看涨支撑、基本面暗示仍待调整

Core Viewpoint - The article discusses the recent fluctuations in gold prices, highlighting a potential bullish outlook despite current pressures from trade negotiations and a strengthening US dollar [1][4][6]. Market Performance - On July 28, gold opened lower at $3321.78, reached a high of $3344.99, and closed at $3314.39, marking a decline of $24.11 or 0.72% from the previous close of $3338.50 [4]. - The trading range for gold is expected to remain between $3000 and $3500 in the short term, with key support levels at $3300 and $3270 [8][12]. Technical Analysis - The gold price is currently within a three-month consolidation triangle, indicating potential for a rebound, especially if it holds above the 100-day moving average [1][14]. - The ZZ indicator suggests a bottoming pattern, while MACD signals a bearish trend, indicating mixed signals for future price movements [10][14]. Economic Indicators - Upcoming economic data releases, including the FHFA house price index and consumer confidence index, are anticipated to influence market sentiment [6]. - The expiration of the US trade agreement on August 1 is a critical date, with potential implications for gold prices depending on the outcome of trade negotiations [6][7]. Future Outlook - The article suggests that regardless of trade agreement outcomes, gold prices may not face significant downward pressure, with a bullish trend expected in the long term due to anticipated interest rate cuts by the Federal Reserve [7][11]. - The potential for a rebound in gold prices is supported by the expectation of a dovish stance from the Federal Reserve, which could lead to a bullish market for gold in the coming year [7][11].