Gold Market Analysis: Short-Term Weakness, Long-Term Optimism

After a significant drop on Friday, gold prices hit a low of **$3316** in the US market, indicating that the current market correction is likely to continue into next week.

### Current Market Dynamics

The short-term outlook for gold appears weaker, with the 4-hour cycle showing a decline and the daily cycle facing upward pressure. Despite this, the overall market remains within a broad trading range, mirroring the patterns observed in May.

The recent fall below the **$3330** support level is a key indicator. This point acted as a pivot between bullish and bearish sentiment, and its breach suggests that the short-term market has entered a period of weakness and volatility. However, the market hasn't fully shifted into a bearish trend. We can expect a continued downward fluctuation, but the extent of this drop should be limited, making a sharp decline unlikely.

### Trading Strategy for the Coming Week

Given these dynamics, a "short-term selling and long-term buying" strategy is recommended.

* **Short-term operations** may involve selling, but this should be approached cautiously.
* From a broader perspective, **buying remains the primary strategy**.

Looking ahead to next week, we anticipate the market will fluctuate and find a bottom around **$3300**. Once this support level stabilizes, a new upward trend is expected to begin.

**Key price levels to watch:**

* **Short-term resistance:** $3340
* **Lower support:** $3300

Flexibility in your trading arrangements will be crucial to capitalize on upcoming market opportunities.