Group 1 - The core viewpoint indicates that the bearish forces in the gold market are currently stronger than the bullish forces, with the price of spot gold experiencing resistance near the $3,300 mark and retreating to around $3,280 [1] - The strongest resistance level is identified at $3,329.24, suggesting that before reaching this level, the price will encounter significant resistance [1] - The strongest support level is noted at $3,249.1, which aligns with the low point established earlier today, indicating a critical area to monitor for potential price action [1]

Core Viewpoint - The sudden drop in Hong Kong and A50 indices is attributed to multiple factors, including the reintroduction of U.S. steel tariffs, a general decline in the Asia-Pacific stock market, and warnings from Morgan Stanley regarding the U.S. dollar and economic conditions [1][2][5]. Group 1: Market Reactions - The Hong Kong stock market and A50 index experienced significant declines, with Hong Kong's drop exceeding 2.5% [1]. - The overall sentiment in the Asia-Pacific region was negative, with major indices like the Hang Seng Tech Index and the National Enterprises Index falling nearly 3% [2]. Group 2: Influencing Factors - The reintroduction of U.S. tariffs on steel has raised concerns about global trade dynamics, contributing to market volatility [1]. - Morgan Stanley's report indicated potential weakness in the U.S. dollar due to interest rate cuts and sluggish economic growth, adding to market uncertainty [5]. - The presence of short-selling activities intensified the market's downward trend, as there were no substantial positive developments during the holiday period [5]. Group 3: Outlook for A-shares - A-shares are expected to open lower due to the negative sentiment from the Hong Kong and A50 declines, but a significant drop is not anticipated [7]. - Despite the expected weak performance, there may be support from mysterious funds aimed at stabilizing the market and preventing excessive declines [7]. - Positive influences from the Dragon Boat Festival holiday, such as the central bank's 700 billion yuan reverse repurchase operations, could provide support for A-shares [7].