Group 1 - The article discusses the rebound of the US stock market and the pullback in gold prices, indicating a shift in market sentiment as risk aversion decreases [1] - It highlights the resistance level for gold at 3500 and mentions that overbought signals have been confirmed, suggesting a need for defensive trading strategies [1] - The upcoming non-farm payroll data and mid-week GDP figures are expected to play a crucial role in determining market direction and the balance between bullish and bearish sentiments [1]

Group 1 - The current gold price adjustment is fundamentally different from the decline in early April, as the recent drop occurred in a low-volatility rising environment of the S&P index, unlike the previous drop which was accompanied by significant volatility [1] - The impact of tariff shocks in early April was a key factor driving gold prices up, while the current uncertainty surrounding U.S. tariffs suggests that the extent of the gold price correction is limited [2] - The market may be overreacting to perceived softening in U.S. trade policy, as major trading partners have denied claims of significant progress in negotiations, indicating that achieving a resolution may be more complex and prolonged than anticipated [3] Group 2 - Typically, a rise in the U.S. dollar leads to a decline in gold prices; however, Deutsche Bank analysts suggest that the dollar alone can only explain about half of the recent drop in gold prices from peak to trough, indicating that other factors are also at play [5]