Core Bullish Logic (Dominating Force Next Week)GoldOANDA:XAUUSDDaniel-Foster# 📈 Core Bullish Logic (Dominating Force Next Week) 🌍 **Middle East Geopolitical Conflicts Continue, Safe-Haven Premium Unlikely to Dissipate Quickly** The fighting in the Middle East continues, with no substantial signs of easing regional tensions, continuing to impact energy supply chains and market sentiment. As long as the conflict doesn't clearly de-escalate, gold will continue to receive support from safe-haven buying. Clear signs of institutional and central bank bottom-fishing have appeared below **5060**, strongly limiting downside potential. 💵 **Weak US Non-Farm Payroll Data, Rate Cut Expectations Resurface** Worse-than-expected non-farm payroll data indicates a clear cooling in the job market, reigniting market expectations for a June rate cut by the Federal Reserve. The dollar and US Treasury yields have peaked and declined, directly lowering the cost of holding gold and providing medium-term support for gold prices. 📊 **Technical Oversold Correction, Rebound Structure Officially Established** After a significant drop from its highs, gold is severely oversold in the short term. This week, clear signs of a bottoming out and rebound have emerged, with prices returning above short-term moving averages. The RSI has turned upwards from a low level, and a MACD bullish divergence has formed, technically supporting a sustained corrective rebound. 🏦 **Central Bank Gold Purchases Logic Intact, Medium- to Long-Term Support Persists** The global trend of central banks continuously purchasing gold has not changed, and the buying power has strengthened after the sharp drop. This means that after a deep fall in gold prices, there will be strong buying support, making it difficult for a continuous sharp drop to occur again.