由於宏觀經濟的不確定性和地緣政治緊張局勢將投資者提升到更安全的資產，黃金近乎技術閾值

同時，AltCoins的回調引發了有關下一次加密市場集會何時發生的詢問。

As macroeconomic uncertainties and geopolitical tensions drive investors toward safer assets, gold is approaching a critical technical threshold. Meanwhile, the pullback in altcoins has sparked inquiries about when the next crypto market rally might occur.

隨著宏觀經濟的不確定性和地緣政治緊張局勢將投資者推向更安全的資產，黃金正在接近關鍵的技術門檻。同時，AltCoins的回調引發了有關下一次加密市場集會何時發生的詢問。

Analyst Michaël van de Poppe highlights the current struggle at crucial gold price levels, suggesting a potential shift in overall risk appetite could unfold with the next move in the metal.

分析師Michaëlvan de Poppe強調了目前在關鍵的黃金價格水平上的鬥爭，這表明隨著金屬的下一步行動，總體風險偏好的潛在轉變可能會發生。

Macro Events Strengthen Gold, Weigh on Risk Assets

宏事件增強黃金，權衡風險資產

Recent events around the world have reinforced the perception of gold as a safe haven. Constant geopolitical tensions, including new US tariff threats and conflicts in the Middle East and Ukraine, have prompted investors to shun risk.

全球最近的事件加強了人們對黃金作為避風港的看法。不斷的地緣政治緊張局勢，包括中東和烏克蘭的新關稅威脅和衝突，促使投資者避免風險。

The US Federal Reserve has also adopted a dovish stance, with the markets anticipating a potential September rate cut, further weakening the US Dollar. This has supported gold, which has managed to stay afloat following an initial correction from recent peaks.

美國美聯儲還採取了艱難的立場，市場預計9月份的降價可能會降低，進一步削弱了美元。這支持了黃金，該黃金在最近的山峰進行了初步糾正後設法保持了漂浮。

Furthermore, gold prices are being supported by the cooling of US inflation data. The lower-than-expected increase in consumer prices in May supported expectations of reduced interest rates, which once again highlighted the attractions of gold as a non-yielding investment.

此外，美國通貨膨脹數據的冷卻支持了黃金價格。 5月份消費者價格的增長比預期的降低支持了對利率降低的期望，這再次強調了黃金作為一項不收益投資的吸引力。

All these macroeconomic drivers, combined with trade uncertainties, have helped contain downside movements in gold and keep the metal in a favorable position.

所有這些宏觀經濟的驅動因素，加上貿易不確定性，都幫助包含了黃金的下行運動，並使金屬保持有利的位置。

Technical Analysis: Gold Consolidates Below Key Resistance, Altcoins Await Direction

技術分析：黃金鞏固在關鍵阻力下，山寨幣等待方向

From a technical perspective, gold is consolidating just below a major resistance zone around $3,400. As highlighted by Michaël van de Poppe’s latest chart, gold took liquidity above recent highs and is now building for a decisive move.

從技術的角度來看，黃金在主要阻力區以下的鞏固約為3,400美元。正如MichaëlVande Poppe的最新圖表所強調的那樣，Gold的流動性超過了最近的高點，現在正以決定性的舉動為基礎。

If the price manages to break above this notional resistance, analysts anticipate another rally, which may propel gold to reach a new all-time high. That scenario would represent a very risk-off type of environment, with investors still prioritizing safety over speculation.

如果價格設法超過了這種名義阻力，分析師預計會有另一個集會，這可能會推動黃金達到新的歷史最高水平。這種情況將代表著一種非常冒險的環境類型，投資者仍將安全性優先於猜測。

However, if gold fails to hold onto its current support around $3,200, it may face a deeper correction. This range has recently served as a demand zone. A drop below this level would likely reverse the short-term bullish trend, potentially allowing riskier assets to recover.

但是，如果黃金未能在3,200美元左右的$ 3,200左右支撐其目前的支持，則可能會面臨更深入的更正。該範圍最近是需求區。低於此水平的下降可能會扭轉短期看漲趨勢，從而使風險更高的資產恢復。

Until this crucial technical situation clarifies, altcoins will continue to face pressure, with many inquiring about when the next crypto market rally might occur.

在這種關鍵的技術狀況澄清之前，Altcoins將繼續面臨壓力，許多人詢問何時可能發生下一次加密市場集會。

Bitcoin’s dominance remains high at 64.1%, suggesting that the altcoin season has yet to fully arrive. Although some altcoins have managed to outperform Bitcoin over the past few weeks, overall liquidity remains limited, mainly due to investors’ caution and central banks’ ongoing fiat liquidity injections.

比特幣的主導地位仍為64.1％，這表明山寨幣季節尚未完全到來。儘管一些山寨幣在過去幾周中設法勝過比特幣，但總體流動性仍然有限，這主要是由於投資者的謹慎和中央銀行'正在進行的菲亞特流動性注射。

According to historical trends, major altcoin rallies tend to occur when Bitcoin’s dominance falls below 50%. Risk-on assets such as altcoins continue to face difficulties at this time, as capital continues to flow into traditional safe havens like gold.

根據歷史趨勢，當比特幣的統治地位低於50％時，主要的Altcoin集會往往會發生。隨著資本繼續流入像黃金這樣的傳統安全避風港，諸如AltCoins之類的風險資產仍在繼續面臨困難。