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 - The gold market is experiencing a "sweep" trend, with fluctuations indicating a potential medium-term decline after reaching highs [2][4] - Recent trading saw gold prices oscillate around the 3400 mark, with a closing price near 3396, failing to break above 3400 [2][5] Influencing Factors - The People's Bank of China has expanded its gold reserves for nine consecutive months, providing bullish support for gold prices [4] - Contrarily, news of a meeting between Trump and Putin, along with unfavorable initial jobless claims data from the U.S., has exerted downward pressure on gold [4][5] Current Trading Dynamics - The recent trading pattern shows gold's tendency to rise and then fall, indicating a struggle for upward momentum [7] - The market is currently focused on the 3400 level, with a preference for bearish positions unless gold closes above 3405-3408 [7][10] Technical Analysis - The gold market is expected to face resistance around 3408, with potential support at 3375-3370 [8][10] - A break below the 3375-3370 support zone could signal further declines, while a sustained move above 3408 may lead to higher targets [8][10]