🔍 Technical Overview
• Support Levels:
o $3,300 – Key short-term floor, tested early in the week
o $3,260–3,265 – Near-term support zone highlighted in triangle pattern
o $3,120–3,136 – Deeper technical base if broader correction unfolds
• Resistance Levels:
o $3,345–3,350 – Recent swing top, short-term ceiling
o $3,400 – Round number mark and breakout target
o $3,447 – April highs and upper resistance band
• Momentum Indicators:
o Price slipped below the 50-day EMA, signaling a mild bearish tilt
o RSI/Stochastics moderating from overbought levels, suggesting short-term consolidation

📰 Fundamental Drivers
• Tariff Developments: President Trump’s tariff extension relief eased safe-haven demand, pressuring gold
• U.S. Labor Strength: Strong job gains reduced expectations for a July Fed cut, supporting the dollar and weighing on gold
• Geopolitical Relief: Calmer Middle East tone moderated the risk premium in gold

📅 This Week’s Key Events
• July 9 (Wed) – Fed minutes release
• July 11 (Fri) – U.S. PPI & Consumer Sentiment; tariff deadline updates
• Ongoing – Trade headlines, Fed signals, and any geopolitical flare-ups

📌 Weekly Outlook & Strategy
🔼 Bullish Case
• $3,300+ holds → look for rebounds toward $3,345–3,350
• A breakout above $3,350 could revisit $3,400 and possibly push toward $3,447
🔽 Bearish Case
• Failure below $3,300 targets $3,260–3,265; if broken, $3,120–3,136 may come into play
• Sustained USD strength or easing risk could deepen the drop