Core Viewpoint - Gold prices are stabilizing around $3288 per ounce, with expectations of potential declines following the release of the U.S. non-farm payroll report [1][2]. Group 1: Market Analysis - On Wednesday, gold prices hit a low of $3268.08 per ounce after the Federal Reserve's monetary policy announcement, marking a new low for July [1]. - The U.S. is set to release the July non-farm employment report, with expectations of 110,000 new jobs, a decrease from June's 147,000 [1][2]. - Analysts suggest that if the non-farm employment data exceeds expectations, the U.S. dollar may strengthen further, negatively impacting gold prices [2]. Group 2: Technical Outlook - The daily chart indicates that gold is near the $3290 per ounce level, with the 100-day simple moving average (SMA) losing bullish momentum and providing dynamic support around $3268.00 [3]. - The 4-hour chart suggests that gold may continue its downward trend, with a bearish 20-period SMA acting as intraday resistance [3]. - Key support levels for gold are identified at $3281.90, $3268.00, and $3246.20, while resistance levels are at $3311.15, $3328.60, and $3345.00 [5].

Group 1 - Gold prices continued to rise, opening at $3302.59 per ounce and reaching a high of $3332.09, with a current price of $3326.54, reflecting a 0.72% increase [1] - The Chicago PMI for June decreased slightly to 40.4 from 40.5 in May, indicating a contraction in economic activity for the 19th consecutive month, which is the lowest level since January [3] - The report highlighted that 70% of respondents reported price increases in June, up from 57% in May, indicating rising inflationary pressures [3] Group 2 - Technical analysis suggests that gold may face resistance below $3310.00 and could target a decline towards the range of $3285.00 to $3260.00 if it encounters resistance below $3323.00 [4] - Short-term resistance levels for gold are identified at $3322.00 to $3323.00, with significant resistance at $3347.00 to $3348.00, while support levels are at $3285.00 to $3286.00 and important support at $3260.00 to $3261.00 [4]

Group 1 - The core viewpoint indicates a significant drop in spot gold prices, currently around $3288.70 per ounce, with a decline of over $38 in a single day [1] - The U.S. Bureau of Economic Analysis is set to release the Personal Consumption Expenditures (PCE) price index for May, with expectations of a year-on-year increase to 2.3% from April's 2.1% [1] - The U.S. Commerce Department reported a contraction in the first quarter GDP to an annualized rate of -0.5%, with consumer spending growing at the slowest pace since 2020 [2] Group 2 - Despite a decrease in initial jobless claims, the number of continuing claims has reached a nearly four-year high, indicating insufficient recovery in the job market [2] - The upcoming May core PCE price index is expected to show a month-on-month increase of 0.1% and a year-on-year increase of 2.6%, which could influence the Federal Reserve's decision on interest rates [2] - Federal Reserve Chairman Jerome Powell's comments on assessing tariff impacts before deciding on rate cuts have drawn criticism from President Trump, raising concerns about the Fed's independence [2] Group 3 - Technical analysis suggests that gold prices have fallen below the 200-period simple moving average, which may signal a new trigger point for bearish sentiment [3] - Analysts predict that gold prices could accelerate downwards towards the $3245 per ounce region, with potential support levels at $3210-$3200 and $3175 per ounce [3] - Resistance levels for gold are identified at $3324-$3325 per ounce, with further resistance at approximately $3368-$3370 per ounce, which could limit any upward movement [3]

Group 1 - Spot gold prices rose slightly, reaching a high of $3377.50 per ounce, currently trading at $3371.19, with an increase of 0.48% [1] - The upcoming focus includes U.S. initial jobless claims for the week ending June 7, and the May PPI year-on-year and month-on-month data [1] Group 2 - Iran and the U.S. are set to hold indirect negotiations regarding the Iran nuclear deal on June 15 in Muscat, Oman [2] - Iranian Defense Minister stated that if negotiations fail, Iran would target U.S. military bases in the region, emphasizing that all U.S. bases within range would be attacked [2] - The U.S. is evacuating non-essential personnel from the Baghdad embassy and military family members from several bases in the Gulf due to escalating security concerns [2] Group 3 - Technical analysis indicates that spot gold is expected to test resistance at $3391 per ounce, with a potential rise to $3413 if this level is breached [3] - The current upward movement is seen as a continuation of a previous upward trend that started from $3245, with support at $3353 [3] - If the price breaks below $3353, it could fall to the range of $3316 to $3331 [3] Group 4 - Following a breakthrough, prices could potentially rise to a range of $3434 to $3502 [4]

Group 1: Fundamental Analysis - Geopolitical tensions and economic uncertainties are driving demand for gold as a safe-haven asset, particularly due to the escalating Russia-Ukraine conflict and warnings from the World Bank about potential global trade stagnation [2]. - The progress of US-China trade negotiations is influencing gold price corrections, as market expectations of a potential agreement could ease trade tensions and reduce demand for safe-haven assets [3]. - Key economic indicators to watch include the US CPI data, with expectations of a rise in core CPI to 2.9% year-on-year, which could impact Federal Reserve interest rate decisions and subsequently affect gold prices [4]. Group 2: Technical Analysis - On the daily chart, gold showed a doji candlestick pattern, indicating a struggle between bulls and bears around current price levels, with significant support at 3293 and resistance at 3349 [5]. - The four-hour chart indicates that gold has completed a three-wave structure in its recent price movements, with critical levels at 3293 for support and 3349 for resistance, suggesting potential for further downward movement if these levels are breached [7].

Core Viewpoint - The recent easing of US-China trade tensions has led to a significant drop in gold prices, with the market sentiment shifting away from safe-haven assets like gold [1][2]. Group 1: Market Reaction - Gold prices fell nearly 3% on Monday, closing at $3234.95 per ounce, marking a drop of $90.49 [1]. - The price of gold reached a record high of $3500.05 per ounce last month before the recent decline [2]. - The US and China have agreed to reduce tariffs, with the US cutting tariffs on Chinese goods from 145% to 30%, and China reducing tariffs on US goods from 125% to 10% for a period of 90 days [2]. Group 2: Economic Indicators - The focus is now on the upcoming US Consumer Price Index (CPI) data, which is expected to show a year-on-year increase of 2.4% and a month-on-month rise of 0.3% for April [2][3]. - A stronger-than-expected CPI could lead to a further strengthening of the US dollar, potentially triggering another round of gold sell-offs [3]. Group 3: Technical Analysis - The technical outlook for gold remains bearish as long as optimistic sentiment prevails, with gold prices having recently broken below the flat 20-day simple moving average (SMA) [4]. - Key support levels for gold are identified at $3202.00, $3187.20, and $3176.45 per ounce, while resistance levels are at $3234.40, $3248.50, and $3263.85 per ounce [6][7]. - The momentum indicators are showing a downward trend, and if gold prices fall below the Monday low, they may target the May low of $3202.03 per ounce [4].

Group 1 - The geopolitical tensions, particularly the Russia-Ukraine conflict and Middle East issues, have significantly increased the investment value of gold as a traditional safe-haven asset [1] - Gold prices are currently holding above the key level of $3,300 per ounce, demonstrating resilience amid rising geopolitical risks [1] - Recent market sentiment is characterized as "cautiously optimistic," with increased funds flowing into the gold market due to global macro uncertainties and safe-haven demand [1] Group 2 - Technical analysis indicates that gold has formed a clear bottoming pattern on the daily chart, alleviating previous downward pressure [2] - Key support level is identified at $3,300 per ounce, which serves as a critical dividing line for bullish and bearish sentiment [2] - The 4-hour Bollinger Band upper limit at $3,338 per ounce represents short-term resistance, with potential upward targets near $3,350 per ounce if bullish momentum continues [2] Group 3 - The 4-hour chart suggests that the recent price action indicates the end of a corrective wave, initiating a new upward trend [4] - The first upward wave is identified between $3,201 and $3,269, with a potential target for the third wave projected at around $3,332 [4] - Suggested trading strategy includes buying on dips in the $3,280-$3,285 range, with a stop loss at $3,272 and a target of $3,315-$3,325 [4]