Core Viewpoint - The recent fluctuations in gold prices are influenced by multiple factors, including the U.S. consumer price index (CPI) data and the extension of the U.S.-China tariff truce, which have both contributed to a favorable environment for gold investment [3][4]. Gold Market Analysis - Gold prices rebounded from 3342 to 3372, with a peak at 3374, primarily due to the U.S. July CPI data aligning with market expectations, reinforcing the anticipation of a Federal Reserve interest rate cut in September [3]. - Lower interest rates diminish the attractiveness of the U.S. dollar, reducing the opportunity cost of holding gold, thus encouraging more investment in gold [3]. - The extension of the U.S.-China tariff truce by 90 days until November 10 has eased trade tensions, reducing inflationary pressures and enhancing gold's appeal as a hedge against geopolitical risks [4]. Technical Analysis - The daily chart indicates that gold is operating within a triangular range, with a recent low at 3331 and a potential upward movement if it breaks above the resistance level at 3430 [5]. - Current price action is around the 20-day moving average at 3358, with the Bollinger Bands indicating consolidation around this level [5]. - If gold remains below 3358, a downward trend may ensue, while holding above this level could lead to a test of 3380-3384 [5]. Trading Strategy - A recommendation is made to sell gold on a rebound to the 3358-3361 range with a stop loss at 3371 and a target of 3346-3348. Conversely, if prices drop to 3315-3317, a buying opportunity is suggested with a stop loss at 3305 and a target of 3327-3329 [7].