7.10 Gold Strategy Midnight Gold Review: V-shaped major reversal! Gold bottoms at 4072 and violently rebounds—have the shorts hit the end?

Today’s gold trade played out like a roller coaster: it surged to 4134 in the morning, then came under pressure and plunged. In the afternoon it accelerated lower, smashing down to the 4072 low point. After that, buy orders poured in and drove a strong rebound, and it has now reclaimed the 4110 level, with an intraday range exceeding $60.

From the news side: the Fed’s June minutes were hawkish; the probability of a September rate hike has risen to 63%, and the 10-year Treasury yield is above 4.5%. Ongoing expectations of high rates continue to weigh on gold prices. But the Middle East situation has been fluctuating and the US-Iran negotiations remain unresolved; safe-haven buying could reappear at any time. Gold keeps getting tugged between “rate pressure” and “geopolitical support,” and the choppy range is difficult to break in the short term.

From the technical side: on the 15-minute timeframe, after a dip to 4072, gold formed a V-shaped reversal. Near-term support has shifted up to the 4080–4072 area, while resistance lies at 4120–4134. A tentative low-level bullish MACD crossover is beginning to appear, suggesting rebound momentum in the near term. Holding above 4120 could open the door to a retest of the prior high; if it breaks below 4080, it will likely return to a weaker bias.

Trading reference: on pullbacks into the 4110–4130 zone, sell in batches. Targets: 4080 and 4050. $XAUT