Core Insights - The decline in the US dollar index and concerns over the US fiscal and economic outlook have contributed to a significant increase in gold prices, with expectations of over 3% growth for the week [2] - Political uncertainty has heightened demand for gold, which is seen as a safe-haven asset, especially as other assets like the dollar face pressure [2] - The passage of Trump's tax and spending bill in the House has raised concerns about increasing US government debt, further weakening the dollar [2] Market Data - Current gold prices are reported at $3324.69 per ounce, with a daily high of $3334.27 and a low of $3286.89 [1] - Other gold-related prices include: - Gold T+D: 775.60 yuan/gram - Paper gold: 768.17 yuan/gram - Shanghai gold futures: 780.10 yuan/gram [1] Technical Analysis - The technical outlook for gold indicates a potential correction after a series of gains, with support levels identified at 3280 and 3293 [2] - The next upward target for gold is projected to be around 3400, with a bullish trend supported by moving averages and Bollinger Bands [2] - The market remains in a strong bullish cycle, with key resistance levels at 3315, 3340, 3365, 3380, and 3400 [2]