August 11th Wanxin Afternoon Analysis:
The upward tailwind brought by earlier employment data has been gradually digested. Profits accumulated at higher levels are being taken off gradually. The US dollar has stabilized slightly and rebounded, which has limited the upside space for gold prices. At the moment, there is no major news catalyst supporting the market. The previously one-way uptrend has come to a pause, and the overall sentiment has shifted toward a pullback and consolidation.
After gold surged to high levels, it faced continued pressure and moved downward. Throughout the day it saw a steady choppy decline, trading lower with intra-day fluctuations. The short-term trend is relatively weak. One-minute indicators have entered a low-range zone; the pace of the near-term decline has slowed. For now, the market is in a phase of mild consolidation and correction, but overall it remains biased toward weakness.
Gold: rebound around 4390-4410 pond
Target: look down to around 4350-4330 near 4300#黄金
The upward tailwind brought by earlier employment data has been gradually digested. Profits accumulated at higher levels are being taken off gradually. The US dollar has stabilized slightly and rebounded, which has limited the upside space for gold prices. At the moment, there is no major news catalyst supporting the market. The previously one-way uptrend has come to a pause, and the overall sentiment has shifted toward a pullback and consolidation.
After gold surged to high levels, it faced continued pressure and moved downward. Throughout the day it saw a steady choppy decline, trading lower with intra-day fluctuations. The short-term trend is relatively weak. One-minute indicators have entered a low-range zone; the pace of the near-term decline has slowed. For now, the market is in a phase of mild consolidation and correction, but overall it remains biased toward weakness.
Gold: rebound around 4390-4410 pond
Target: look down to around 4350-4330 near 4300#黄金