Gold 3.7 Analysis

The gold market is affected by multiple factors in the current environment, including trade policy, stock market performance and technical support.
Fundamental analysis:
The Trump administration's tariff exemptions, which exempt Mexican and Canadian imports, have eased market concerns about tightening trade policies. This move has reduced risk aversion, resulting in a slight decline in safe-haven demand for gold.
But it should be noted that uncertainty in trade policy remains and may cause market volatility again in the future.
The current US stock trading price is lower than the level on Trump's inauguration day, reflecting market concerns about the economic outlook. A sluggish stock market usually increases the appeal of safe-haven assets (such as gold), providing support for gold.
Gold rebounded to around 2923, which may be a short-term resistance level. If it breaks through, it may rise further. After the release of non-agricultural data, gold fell back to the trend line of 2905-2910, which may form a bullish opportunity.
Support and resistance:
Support: 2905, 2890. These two positions are important defense lines for short-term bulls. If they fall below, they may fall further.
Resistance levels: 2923, 2930. After breaking through these positions, gold may rise further.
Operation suggestions:
Entry point: Long near 2908 or 2912.
Target: 2923-2930.
Stop loss: 2900.