At the beginning of this week, the gold market gained support for the fourth time after backtesting at $3270. After briefly hovering at a low level, it immediately launched a strong bottoming out and rebounded, briefly touching the $3352 line. However, the price failed to further rise on this basis and was forced to retreat, continuing to fluctuate within the large box range. After the previous trading day's decline, the consolidation range showed a gradually shrinking trend, with the key suppression level at $3330 and the support level at $3300. The price fluctuated repeatedly within a narrow range of $30.

From the perspective of intraday trading rhythm, gold continues its recent pattern, rising in the morning and then falling back, fluctuating in the European market, and stabilizing and rising in the US market. Around this rhythm, it is advisable to focus on the effectiveness of the $3300 support level during the day. If this support can still be held after the volatility in the European market and the US market stabilizes here, it may be considered to buy on dips. As the consolidation cycle continues to lengthen and the range continues to shrink, it indicates that the market is about to break the current volatile pattern. After the impact of Trump's tariff policy gradually fades, the market is re pricing gold, and it is inevitable that the trend will fluctuate in this process.

On a daily basis, gold has gained support above the key low of $3260 for five consecutive trading days. Overall, it refers to the first two trading days, although there was a decline afterwards, there was a slight decline, and the price did not break through the low point. The overall trend is more inclined towards the true market trend after the correction to the low point. Normally, a true decline or peak turning trend is often accompanied by a continuous weakening, rather than the current range repeating itself.

Follow up trend, focus on the testing of gold against the upper suppression level. Once it breaks through $3330, or even further breaks through $3352, it will mark the bottom structure becoming more stable. The current repeated fluctuations are actually building a new upward support platform, laying a solid foundation for the subsequent upward trend.

Overall, there is no need to worry excessively about short-term fluctuations, as the overall upward trend of gold has not changed. Investors can closely monitor the breakthrough of key points and seize trading opportunities.