On July 5th in the Asian market, influenced by the strengthening of the US dollar index, spot gold prices continued to be firm, trading near 2407.60 US dollars per ounce. Last Saturday, the former US President Trump was attacked, leading to a surge in his chances of winning the election, which boosted the US dollar index and put pressure on gold prices at the open.

In the attack, Trump, 78 years old at the time, was holding a campaign rally in Butler, Pennsylvania, one of the most fiercely contested battlegrounds for both parties. Halfway through the rally, gunshots rang out, and Trump was injured in his right ear, with blood splattering on his face. After the gunfire ceased, the injured Trump, under the American flag, raised his arm and roared, boosting the morale of his supporters. Relevant websites show that after the shooting incident, Trump's chances of winning the election have soared to 70%.

Trump's rival, the Democratic candidate and current US President Biden, stated that he had ordered a thorough investigation into the assassination attempt. As a former president, Trump should be under the lifelong protection of the US Secret Service. The White House will also investigate how the suspect in this case, Thomas Matthew Crooks, was able to fire at Trump with an AR-15 rifle from the roof.

According to the latest statement from Trump's campaign team, Trump is in good condition, and apart from the wound on the upper part of his right ear, he seems to have suffered no major injuries. Yesterday, Trump announced on his personal website that he would continue his campaign itinerary in Milwaukee. Trump said, "I had planned to postpone my trip to Wisconsin and the Republican National Convention by two days, but I have just decided that I cannot allow a 'shooter' or potential assassin to force me to change my schedule or anything else. Therefore, I will go to Milwaukee as planned."

After the incident, FXDailyReport analyst Nicholas Kitonyi quickly wrote an article analyzing the future trend of gold prices.

Kitonyi said that the former US President and this year's Republican candidate for the presidential election, Trump, was shocked by the world when he was shot and injured at a campaign rally in Pennsylvania last Saturday evening. Looking at the future trend of gold prices, they are currently trading around 2410 US dollars per ounce; in the 60-minute chart, gold continues to trade within an upward channel; additionally, the gold price has risen above the 100-hour moving average.

Kitonyi continued to point out that in the short term, from a technical perspective, in the 60-minute chart, the gold price is trading in an upward channel. However, the 14-hour Relative Strength Index (RSI) has fallen back to avoid rebounding into an overbought state. Therefore, gold bulls will look for gold prices to take profits around 2424 US dollars per ounce or higher at 2438 US dollars per ounce. On the other hand, gold bears will set their sights on taking profits around 2394 US dollars per ounce or lower at 2379 US dollars per ounce.

On the daily chart, the gold price is also trading in an upward channel. The 14-day RSI seems to support a long-term bullish tendency as it is close to an overbought state. Therefore, Kitonyi judged that gold bulls will demand the continuation of the current rebound in gold prices and rise to 2448 US dollars per ounce or higher at 2497 US dollars per ounce. On the other hand, gold bears will look for gold prices to take profits when they fall back to around 2361 US dollars per ounce or lower at 2297 US dollars per ounce.