Woke up early to check the positions I’ve been holding. Gold is surprisingly strong, so let’s talk about it first. This round of gold’s rally started with the drop in oil prices, but the fact that it continued to rise even as oil rebounded is largely thanks to the weak non-farm payroll data. After all, gains and losses come from the same source. Back in early June, gold dropped from the 4400 level due to rising rate hike expectations, and now it’s essentially pricing out the rate hike premium. At the same time, weak employment + high oil prices = stagflation expectations maxed out, which creates the perfect external environment for gold. The next key factor that will determine whether gold continues to rise or pulls back is tomorrow night’s CPI data. If rate hike expectations strengthen, gold will drop; if they weaken, gold will rise. Looking at the chart, the previous resistance at 4370 has been broken, and the next resistance is around 4460-4520. If it reaches this level, that’s a full 10% rally, which is already pretty insane for an asset of this size. So, if the CPI aligns, we’ll likely see consolidation around 4460-4520. If it doesn’t, we might see a sharp pullback from this level. @BITstocks_CN Buy U.S. stocks on BIT, with access to 10,000+ U.S. stocks and ETFs, real holdings, and dividend payouts.