during the Asian session, spot gold continued to decline, with the decline widening to 2% at one point. The reason is that Trump has abandoned the threat of firing Federal Reserve Chairman Powell and expressed optimism about reaching a trade agreement with China, weakening the safe-haven appeal of gold. Kelvin Wong, senior market analyst at Anday Asia Pacific, said: "In the short term, the above factors have led to the selling of gold prices, pushing them to an extremely extreme oversold level. However, looking at the resistance level above, there are currently no signs of weakness in the bulls, so gold prices still have the potential to rise."