XAUUSD Fundamentals:

- The US-China tariff war has landed, with safe-haven funds withdrawing, which is extremely bearish for gold, and currently, there is no fundamental information that is bullish for gold.

Technical Aspect:

- The daily chart shows a double top structure, with 3500 being the medium-term top.

- 3200 is a key level; if it cannot hold above it, the bearish outlook will continue.

- There is potential support in the range of 3120 - 3155, which may trigger a rebound.