Group 1 - The core viewpoint of the article indicates that there is a significant resistance level for spot gold around $3365, with a notable imbalance in order flow suggesting that bears dominate this area [1] - The order flow analysis reveals that major sell orders are concentrated between $3364 and $3366, highlighting the importance of breaking through this resistance for further upward movement in gold prices [1] - Caution is advised ahead of the upcoming release of the U.S. Consumer Price Index (CPI), as it may impact market dynamics [1]

Core Viewpoint - Gold prices are currently in a range-bound fluctuation as the market awaits the upcoming U.S. Consumer Price Index (CPI) report next Tuesday [1] Group 1: Market Dynamics - Recent non-farm payroll data has suppressed further increases in gold prices, as the market has re-priced hawkish expectations regarding interest rates, putting pressure on the precious metal [1] - A weak CPI report could provide a boost to gold prices, while a strong performance may trigger a new wave of selling [1] Group 2: Macroeconomic Perspective - From a broader perspective, gold is expected to maintain an upward trend due to the backdrop of the Federal Reserve's easing policies, which may lead to a continued decline in real yields [1] - However, short-term hawkish re-pricing of rate cut expectations could lead to a pullback in gold prices [1]

Core Viewpoint - Following the release of the U.S. Consumer Price Index (CPI) data, traders have increased their bets on the Federal Reserve starting to cut interest rates in September [1] Group 1 - The U.S. CPI data has influenced market expectations regarding interest rate cuts by the Federal Reserve [1]