Bottom Support, Rebound ExpectedGold vs US DollarPEPPERSTONE:XAUUSDAvaTaylor📈 Bottom Support, Rebound Expected 💰 1. Institutional Funds Continue to Flow Back, Strengthening Bottom Support: The world's largest gold ETF, SPDR, has increased its holdings for four consecutive trading days, with the latest holdings rising to 1055.29 tons. Institutional investors' pessimistic expectations for gold continue to improve, shifting from passive selling to active allocation. This improved funding environment provides solid bottom support for gold prices. The rapid rebound after bottoming out at 4339 confirms the effectiveness of the bottom support. 🛡️ 2. Continued Tensions Between the US and Iran Provide Support for Safe-Haven Demand: The US-Iran conflict remains deadlocked, with both sides escalating military actions and negotiations making no substantial progress. Iran has proposed a tough ceasefire, while the US maintains military pressure. The situation in the Strait of Hormuz faces the risk of escalation. Market concerns about the expansion of the conflict have not subsided. Although safe-haven funds have not entered the market on a large scale, they have formed a phase of buying, limiting the extent of gold price pullbacks and providing a core driving force for a gold price rebound.