Market Overview - The gold market is at a critical juncture, influenced by strong economic data and a rising dollar questioning the necessity of loose monetary policy, while geopolitical tensions and buying on dips provide a solid support for gold prices [1] - On Thursday, gold reached a high of $3761.46, dipped to $3722 after initial jobless claims were released, but quickly rebounded due to buying support, closing at $3749.18, a gain of approximately 0.38% [1] Gold Price Analysis - In the previous trading day, gold rose to $3761.3 before retreating, with a recommendation to short around $3755-$3758, leading to a significant drop to a low of $3722.1 before rebounding, resulting in profitable short positions [3] - The daily chart shows a small bullish candle, but indicators like KDJ are in a high position with a downward turn, and MACD shows a reduction in bullish momentum, suggesting a bearish outlook for gold, with expectations of a drop below $3700 [3] - The hourly chart indicates that gold is currently around $3741, with KDJ showing a death cross and MACD indicating a decrease in bullish momentum, reinforcing the recommendation to focus on short positions [3] Trading Recommendations - A strategy is suggested to short gold around $3754-$3757, with a stop loss at $3762 and a target profit range of $3730-$3720 [5]

Market Overview - Gold prices have shown strong performance, breaking through the psychological barrier of $3400, reaching a five-week high of $3423.02 per ounce, driven by a weaker dollar, concerns over Federal Reserve independence, and an influx of safe-haven investments [1] - Silver has also reached its highest level in over a month, indicating overall strength in the precious metals sector [1] Technical Analysis - In the previous trading day, gold prices dipped to $3384.4 before rebounding, with the daily closing above $3400, indicating a bullish trend [3] - Technical indicators such as the 5-day and 10-day moving averages are trending upwards, with TRIX and KDJ indicators showing bullish crossovers, although the J-line is in the overbought region, suggesting limited upside potential in the near term [3] - The hourly chart indicates a slight decline from $3319, currently trading around $3412, with KDJ showing a high-level bearish crossover and MACD indicating increasing bearish momentum [3] Trading Recommendations - Suggested to buy gold in the range of $3395-$3398 with a stop loss at $3390 and a target of $3415 [5] - Suggested to sell gold in the range of $3421-$3424 with a stop loss at $3429 and a target of $3405 [5]