Gold Market Update and Recommended Strategy bulls/bears📉 Gold Holds Steady ~$3,354/oz
Moderate USD strength and tariff-driven safe‑haven buying have kept gold anchored in the $3,330–$3,360 zone.
🤝 Trade & Tariff Influence
Tariff headlines—from Canada’s 35% rate to broader threats—have supported gold by boosting safe‑haven demand heading into U.S. CPI.
📊 Technical Watch
Testing resistance at $3,360; full breakout above $3,342–$3,360 opens path to $3,400–$3,500.
Support sits at $3,330–$3,322 (20‑day EMA); breach risks pickup in short‑term bearish momentum.
💼 U.S. Macro & Fed Cues
Inflation data (June CPI due July 15) and Fedspeak ahead of the July blackout window are set to define next directional moves.
🌍 Central Bank Insight
World central banks are stockpiling gold at record rates, creating a bullish backdrop.
⚖ Range‑Bound Outlook
Expect gold to drift between $3,330–$3,360 near‑term, with upside if tariff/CPI triggers materialize.
📉 Short‑Term Bias
Neutral‑to‑bullish; momentum indicators are calm but could shift quickly on macro surprises.
📈 Med‑Term Outlook Bullish
Ongoing central bank demand, trade dynamics, and macro fundamentals still favor a gradual move toward $3,500+.
⭐ Updated Strategy Recommendations
Accumulate on dips near $3,330–$3,320.
Watch resistance at $3,360–$3,400 for profit‑taking or breakout buying opportunities.
Bears may focus on selling rallies near the upper range.
