- Key market developments yesterday: The PCE inflation data was released on Thursday evening. The overall PCE year-over-year was 4.1%, and core PCE was 3.4%, in line with market expectations and not exceeding expectations. After the bearish news was priced in, short sellers took profits. Gold prices rebounded in a V-shape from the intraday low of $3963, reclaiming the $4000 level. The daily chart closed with a long lower shadow, forming a stop-falling candle.




- Structural assessment: The medium-term major bearish trend has not reversed. The current move is just a technical rebound from oversold conditions, not a reversal to the upside.
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