Core Viewpoint - The international gold price experienced fluctuations, initially rising but ultimately closing lower, indicating increased bearish pressure. The overall trend remains upward, suggesting potential for a rebound if it can hold above key support levels [1][3]. Market Performance - On July 15, gold opened at $3344.03 per ounce, reaching a high of $3366.37 during the European session before falling to a low of $3320.12 in the U.S. session, ultimately closing at $3324.74, down $19.29 or 0.58% [1][3]. - The market is currently facing pressure from a strengthening U.S. dollar index and upcoming economic data releases, which may further impact gold prices [3][5]. Economic Indicators - The U.S. Consumer Price Index (CPI) for June showed a slight rebound, higher than previous values, which diminishes the likelihood of an interest rate cut this month, negatively affecting gold prices [3][5]. - The market sentiment is influenced by ongoing trade negotiations and geopolitical tensions, with recent comments from U.S. Treasury officials indicating a positive outlook on U.S.-China talks [5][6]. Technical Analysis - Technically, gold prices are maintaining a position above the middle Bollinger Band but show bearish signals in indicators, suggesting potential for a decline towards support levels [6][8]. - Key support levels to watch include $3323 and $3300, while resistance is noted around $3340 and $3351 [8]. Future Outlook - The market anticipates that despite current bearish pressures, there remains a possibility for a bullish trend to emerge later in the year, particularly if the Federal Reserve signals a more accommodative monetary policy [5][6].