Gold (Ethereum: 0x68749665ff8d2d112fa859aa293f07a622782f38) Two Core Risk Events (Determining Medium-Term Direction) Thursday's Fed Interest Rate Decision and Chairman's Speech: This is the most crucial policy variable recently, directly revising market expectations for interest rate hikes and dominating the medium-term trend of gold prices. November 3rd US Midterm Election: The election results will affect the direction of US fiscal and economic policies, and gold is likely to experience significant fluctuations before and after the results are released. Current Election Situation Polls show the Democrats with 47% support and the Republicans with 35%, a 12-point lead; Trump's support is only 31%, with rising oil prices pushing up the cost of living being the core reason for his declining approval rating. Other Geopolitical Factors The extension of the state of war in Ukraine for 90 days has a slight positive impact on gold, but its influence is relatively small and cannot dominate the market. Gold (ethereum: 0x68749665ff8d2d112fa859aa293f07a622782f38) Long entry conditions: Either a valid breakout above the 4040 resistance level confirms a trend reversal and warrants further buying, or a clear stabilization signal appears after touching the 3940-3960 support zone before considering establishing a long position.