Core Viewpoint - The short-term market is showing weakness, with a potential for a rebound followed by further declines, indicating a cautious outlook for gold prices in the near term [1] Market Analysis - The market experienced a downturn after failing to sustain an upward movement past 3375, with a significant drop below 3340 indicating a return to a downward trend [1] - Key resistance levels to watch are 3350 and 3355, with 3370 being critical for determining market direction [1] - On the downside, 3310 is a level to monitor, with 3300 as the extreme support [1] Long-term Outlook - Despite short-term fluctuations, the overall sentiment suggests limited downside potential for gold prices above 3270, which is crucial for avoiding a long-term bearish signal [1] - Factors such as trade tariffs, geopolitical tensions, inflation, and potential interest rate cuts by the Federal Reserve are expected to support long-term gold price increases [1] - A breakout above 3270 could unleash pent-up bullish momentum after four months of consolidation [1]