Gold prices fell slightly, rising to $3439.04 in the morning, but bulls failed to break through the June 16 high of $3451.53 and then fell back. Reflecting the weakening willingness of investors to chase the rise.
Despite the short-term pressure of profit-taking, improved risk sentiment and rising yields, the long-term outlook for gold remains constructive. Short-term technical support is gradually built around $3377.8-3365, and stronger demand is expected around $3347.97 and the 50-day moving average of $3336.40. The 50-day moving average remains a key structural level supporting the market. Once the current pressure eases, the continued weakness of the US dollar, the increase in gold holdings by central banks and concerns about the autonomy of the Federal Reserve may push gold prices higher. As long as gold remains above the 50-day moving average, the bullish bias will remain intact.
Comprehensive trading suggestions: In the short term, focus on the 3417-3429 resistance short-selling area, and the key support range of 3377-3366 US dollars below will attract bargain hunters.
GOLD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD
Despite the short-term pressure of profit-taking, improved risk sentiment and rising yields, the long-term outlook for gold remains constructive. Short-term technical support is gradually built around $3377.8-3365, and stronger demand is expected around $3347.97 and the 50-day moving average of $3336.40. The 50-day moving average remains a key structural level supporting the market. Once the current pressure eases, the continued weakness of the US dollar, the increase in gold holdings by central banks and concerns about the autonomy of the Federal Reserve may push gold prices higher. As long as gold remains above the 50-day moving average, the bullish bias will remain intact.
Comprehensive trading suggestions: In the short term, focus on the 3417-3429 resistance short-selling area, and the key support range of 3377-3366 US dollars below will attract bargain hunters.
GOLD XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD 
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Good at solving all trading problems, doubling the account in a week, and making a stable profit of 300% in a month
🚀Private VIP: t.me/HenryDovitt
👍Market exclusive signal: t.me/Henryffjyfylffc108
🚀Private VIP: t.me/HenryDovitt
👍Market exclusive signal: t.me/Henryffjyfylffc108
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.