由于宏观经济的不确定性和地缘政治紧张局势将投资者提升到更安全的资产，黄金近乎技术阈值

同时，AltCoins的回调引发了有关下一次加密市场集会何时发生的询问。

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.

随着宏观经济的不确定性和地缘政治紧张局势将投资者推向更安全的资产，黄金正在接近关键的技术门槛。同时，AltCoins的回调引发了有关下一次加密市场集会何时发生的询问。

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.

分析师Michaëlvan de Poppe强调了目前在关键的黄金价格水平上的斗争，这表明随着金属的下一步行动，总体风险偏好的潜在转变可能会发生。

Macro Events Strengthen Gold, Weigh on Risk Assets

宏事件增强黄金，权衡风险资产

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.

全球最近的事件加强了人们对黄金作为避风港的看法。不断的地缘政治紧张局势，包括中东和乌克兰的新关税威胁和冲突，促使投资者避免风险。

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.

美国美联储还采取了艰难的立场，市场预计9月份的降价可能会降低，进一步削弱了美元。这支持了黄金，该黄金在最近的山峰进行了初步纠正后设法保持了漂浮。

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，美国通货膨胀数据的冷却支持了黄金价格。 5月份消费者价格的增长比预期的降低支持了对利率降低的期望，这再次强调了黄金作为一项不收益投资的吸引力。

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

所有这些宏观经济的驱动因素，加上贸易不确定性，都帮助包含了黄金的下行运动，并使金属保持有利的位置。

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

技术分析：黄金巩固在关键阻力下，山寨币等待方向

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.

从技术的角度来看，黄金在主要阻力区以下的巩固约为3,400美元。正如MichaëlVande Poppe的最新图表所强调的那样，Gold的流动性超过了最近的高点，现在正以决定性的举动为基础。

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.

如果价格设法超过了这种名义阻力，分析师预计会有另一个集会，这可能会推动黄金达到新的历史最高水平。这种情况将代表着一种非常冒险的环境类型，投资者仍将安全性优先于猜测。

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，如果黄金未能在3,200美元左右的$ 3,200左右支撑其目前的支持，则可能会面临更深入的更正。该范围最近是需求区。低于此水平的下降可能会扭转短期看涨趋势，从而使风险更高的资产恢复。

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

在这种关键的技术状况澄清之前，Altcoins将继续面临压力，许多人询问何时可能发生下一次加密市场集会。

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.

比特币的主导地位仍为64.1％，这表明山寨币季节尚未完全到来。尽管一些山寨币在过去几周中设法胜过比特币，但总体流动性仍然有限，这主要是由于投资者的谨慎和中央银行'正在进行的菲亚特流动性注射。

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.

根据历史趋势，当比特币的统治地位低于50％时，主要的Altcoin集会往往会发生。随着资本继续流入像黄金这样的传统安全避风港，诸如AltCoins之类的风险资产仍在继续面临困难。