黄金今日行情走势要点分析（2025.7.31）

Fundamental Analysis - The Federal Reserve maintained interest rates at 4.25%-4.50% and Powell's comments reduced the expectation of a rate cut in September from 65% to 45%, which weakened gold's appeal and increased downward pressure on gold prices [3] - The ADP employment report showed a higher-than-expected increase in private sector jobs for July, and the second quarter GDP growth rate was 3.0%, both of which diminished market expectations for Fed easing and led to gold sell-off [3] - The global macro environment has seen the Trump administration reach several trade agreements and impose high tariffs, which alleviated concerns about the U.S. withdrawing from global affairs, boosting confidence in the dollar but increasing global economic uncertainty [3] Technical Analysis - On the daily chart, gold experienced a significant decline after a brief correction, indicating a continued weak trend. The 5-day moving average has crossed below multiple longer-term averages, suggesting a bearish outlook [6] - Key resistance is identified at 3310, and as long as gold prices remain below this level, a bearish stance is advised. The primary support level is at 3268, with further support at 3248/3245 if this level is breached [6][7] - On the four-hour chart, gold failed to hold above the previous low of 3302/3301 and instead broke lower, necessitating close monitoring of the downward trend. The key level to watch is 3334, which, if surpassed, could indicate a potential reversal [7]