Gold fluctuates upward, and continues to rise after falling backYesterday, the US inflation data exceeded expectations, and the rebound in inflation further supports the Fed's policy of not continuing to cut interest rates in the near term. Fed Chairman Powell's testimony on Tuesday and Wednesday also reiterated that the Fed does not need to cut interest rates urgently. The main driving force for the rise in gold still comes from a series of remarks by Trump on tariffs, followed by geopolitics and central bank gold purchases. Technically, gold fell sharply in the US market yesterday and then reversed sharply. Gold continued to be bullish in the Asian market. The bulls were very strong. The European and American markets were still dominated by low longs. Pay attention to the support levels of 2908 and 2900 below.
Gold recommendation: Gold is long near 2908 or 2902, with a target of 2921-2935.