XAUUSD

Fundamentals: China and the U.S. will visit Switzerland from May 9 to May 12 to negotiate tariffs with U.S. Treasury Secretary Yellen. The previous tariff war led to funds buying gold as a safe haven, and the current negotiations could result in short-term outflows of funds from gold.

Technical Analysis: Today leans more bearish, with resistance at 3340-3350 and support at 3358-3370. This is a position where support and resistance swap, and a break below may lead to a drop towards 3320.

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