Group 1 - The gold price experienced significant volatility last week, influenced by multiple factors, leading to both cautious and optimistic market outlooks [1] - Early last week, gold prices fell below the critical level of $3300 per ounce due to stronger-than-expected US GDP growth and hawkish comments from Federal Reserve Chairman Jerome Powell [1] - The recent revision of US non-farm payroll data altered the previously weak trend of gold prices [1] Group 2 - Citibank raised its gold price forecast for the next three months from $3300 to $3500 per ounce, adjusting the expected trading range from $3100-$3500 to $3300-$3600 [3] - Concerns regarding US economic growth and tariff-related inflation are expected to intensify in the second half of the year, alongside a weakening dollar, which will support a moderate rise in gold prices [3] - Adrian Day, President of Adrian Day Asset Management, believes that the US job market is not as stable as suggested by Powell, and the new employment data increases the likelihood of a Fed rate cut in September, which may lead to a continued rise in gold prices [3] Group 3 - Gold is traditionally viewed as a safe-haven asset during periods of political and economic uncertainty, often performing well in low-interest-rate environments [3] - David Morrison, Senior Market Analyst at Trade Nation, suggests that gold prices need to consolidate for a period before gaining momentum to break through the $3400 level [3] - Chris Vecchio, Head of Futures Strategy and Forex at Tastylive, indicates that tariffs will also have a significant impact on market confidence in gold [4]

Core Insights - The central bank has increased its gold holdings for seven consecutive months, indicating a strategic shift in monetary policy [1] - Ongoing trade negotiations between China and the United States may influence market dynamics and investor sentiment towards gold [1] - The future performance of gold is uncertain, with potential for both rebound opportunities and associated risks [1] Summary by Categories Central Bank Actions - The central bank's continuous accumulation of gold suggests a proactive approach to hedge against economic uncertainties [1] Trade Relations - The resumption of trade talks between China and the U.S. could impact global economic conditions, thereby affecting gold prices [1] Market Outlook - Analysts are divided on whether the recent rebound in gold prices represents a buying opportunity or a signal of impending risks [1]