DLS MARKETS：金价逼近3700美元，美联储鸽派预期能否继续推高？

Core Viewpoint - Gold prices reached a new historical high as bullish sentiment regained control after a four-day period of narrow fluctuations, driven by a weakening dollar and expectations of a potential interest rate cut by the Federal Reserve [1] Group 1: Market Dynamics - The market anticipates a 25 basis point rate cut by the Federal Reserve, with a slight chance of a 50 basis point cut, which has contributed to the upward momentum in gold prices [1] - Political crises in the U.S. and some EU countries, along with worsening geopolitical tensions, have further supported gold buying [1] - The expectation of a dovish stance from the Federal Reserve is likely to provide additional support for gold prices in the future [1] Group 2: Technical Analysis - The key psychological resistance level of $3700 is under increasing pressure, and a breakout above this level could open up further upside potential for gold, with the next target at $3734 (Fibonacci 138.2% extension) [1] - Despite daily technical indicators being in the overbought territory, bullish sentiment remains strong; however, without new fundamental changes, the market may experience a short-term consolidation or slight pullback [1] Group 3: Support and Resistance Levels - Resistance levels identified: 3700, 3734, 3750, 3789 [2] - Support levels identified: 3674, 3624, 3600, 3577 [2]