[Analyst: New York Gold Futures May Enter Consolidation Phase] Odaily Planet Daily reports that RHB Retail Research analyst Joseph Chai stated that, based on the daily chart, gold futures on the New York Mercantile Exchange may have entered a consolidation phase. Thursday's bearish movement in gold futures confirmed that a strong resistance level has formed at $3,700 per ounce. From the perspective of the Relative Strength Index, the bullish momentum of the commodity has already slowed. Therefore, gold futures may pull back to near the 20-day simple moving average in the upward trend. (Jin10)