Core Viewpoint - The article discusses the relationship between trading volume and price movements, emphasizing that volume can be a leading indicator for price changes, and introduces a volume-weighted moving average (VWMA) as a more responsive alternative to traditional moving averages [1][2]. Group 1: Volume and Price Relationship - The concept of volume leading price movements is explored, suggesting that if volume is a leading variable, it should have a cumulative effect on price movements [1]. - A method is proposed to analyze this relationship by applying a volume-weighted approach to price movements, comparing it to traditional moving averages [1]. Group 2: VWMA vs. EMA - The VWMA formula is presented as VWMA: SUM(V*C, N) / SUM(V, N), where V is volume and C is price, with a common period of 20 days used for comparison [2]. - The VWMA is shown to react more quickly to price changes compared to the Exponential Moving Average (EMA), indicating its effectiveness in reflecting investor participation in price movements [2][4]. Group 3: Indicator Analysis - The article references the book "Trend is Gold," which provides a comprehensive analysis of the reliability and backtesting results of various indicators, including VWMA, demonstrating its superiority over EMA [4]. - The emphasis on volume in the VWMA approach is highlighted as a way to capture the significance of trading days with higher volume, making it more relevant to market dynamics [4].

Core Viewpoint - The gold price remains stable around $3327 per ounce as the Federal Reserve's interest rate decision approaches, with limited bullish potential for gold [1][2]. Market Expectations - The market widely anticipates that the Federal Reserve will maintain interest rates, with investors closely analyzing the wording of the statement and Chairman Powell's speech for clues on future rate cuts [4][5]. Technical Analysis - Despite a reduction in negative momentum, there is still a risk of further declines in gold prices. The 20-day simple moving average (SMA) acts as a dynamic resistance at $3345 per ounce, while the 100-day SMA provides support at $3250 per ounce [6]. - Key support levels for gold are identified at $3301.90, $3287.30, and $3274.05 per ounce, while resistance levels are at $3345.00, $3361.80, and $3377.15 per ounce [8].

Core Viewpoint - Gold prices have been on the rise for three consecutive days, with expectations for a weekly gain, driven by renewed trade war concerns following President Trump's announcement of new tariffs [1][2][3]. Group 1: Market Dynamics - Gold prices are experiencing upward momentum, with traders closely monitoring trade developments amid a quiet U.S. economic calendar [2]. - Safe-haven investments have resurfaced in the Asian trading session due to President Trump's tariff statements, leading to a cautious market sentiment [3]. - Trump's threats to impose a 35% tariff on goods imported from Canada, effective August 1, have dampened optimism regarding trade negotiations between Washington and Europe [4]. Group 2: Investor Sentiment - The instability of Trump's trade policies has weakened investor confidence, reigniting demand for both the U.S. dollar and gold as safe-haven assets [5]. - Despite the dollar's rebound, gold buyers remain undeterred, with anxiety surrounding the upcoming U.S. Consumer Price Index (CPI) data, which may provide insights into the Federal Reserve's interest rate decisions [5]. Group 3: Technical Analysis - Gold prices are rebounding from the 38.2% Fibonacci retracement level of $3,297, reclaiming the 50-day simple moving average (SMA) at $3,325 [9]. - The 14-day Relative Strength Index (RSI) has surpassed the midline, currently near 50.50, indicating a positive shift in market sentiment towards precious metals [10]. - A daily close above the 50-day SMA at $3,323 is necessary for buyers to challenge the 21-day SMA at $3,344, with potential resistance at the 23.6% Fibonacci retracement level of $3,377 [11].

Core Viewpoint - Gold prices are rebounding, driven by concerns over trade tensions and a decline in U.S. Treasury yields, following recent tariff announcements by President Trump [1][2][3][5]. Group 1: Market Dynamics - Gold prices have rebounded from a weekly low of $3283, supported by the weakening U.S. dollar and declining Treasury yields [3][5]. - The U.S. Treasury yields have decreased due to renewed economic growth concerns and strong demand for $39 billion in 10-year bonds [6]. - President Trump announced new tariffs on various goods, including a 20% tariff on products from the Philippines and 50% on copper imports, effective August 1 [6][7]. Group 2: Technical Analysis - Gold prices successfully recovered the key 38.2% Fibonacci retracement level of $3297, despite briefly testing below this level [12]. - The Relative Strength Index (RSI) is currently near 48.50, indicating a lack of bullish confidence [12]. - A sustained breakthrough above the 50-day Simple Moving Average (SMA) resistance at $3323 is necessary for a meaningful rebound towards the 21-day SMA at $3346 [13]. Group 3: Future Outlook - The focus is on Trump's tariff negotiations, upcoming U.S. economic data releases, and speeches from Federal Reserve policymakers for new trading signals for gold prices [9]. - Continued weakness in the dollar and low Treasury yields may provide ongoing support for non-yielding gold prices [9]. - If gold prices are rejected at the 50-day SMA, increased selling pressure could lead to a test of the 38.2% Fibonacci support level at $3297 [14].