Organization: Gold futures are oscillating horizontally, with long and short factors intertwined in a deadlock.

Institutional analysis suggests that gold futures remained flat in directionless trading, as the delay in U.S. tariff implementation and a stronger dollar continued to hedge against geopolitical tensions and uncertainties. The current price of gold is maintained around $3320 per ounce, with a cumulative drop of nearly 1% this week - following the Trump administration's decision to postpone the deadline for the so-called "equal" tariffs until August 1st, with the possibility of further extensions. This weakened some safe-haven demand, pushing the dollar and U.S. bond yields higher, competing with the safe-haven properties of interest-free asset gold. However, the new tariff threats from the Trump administration and related trade uncertainties still provide some support for gold prices, combined with continued gold purchases by central banks, stabilizing the bottom of the gold price.