Spot gold short-term trading suggestion: range-bound volatility, buy on dips, sell on rallies
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(1) Analysis rationale: The strengthening of the US Dollar Index combined with US Treasury yields remaining high reinforces market expectations that the Federal Reserve will prolong its tightening cycle, putting pressure on gold. Rising oil prices boost inflation expectations but also push expected interest rates higher, weakening gold's appeal. After breaking short-term support from a technical perspective, gold has entered an adjustment phase and is showing short-term weakness. (2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation (3) Resistance: 4700, 4750, 4780 (4) Support: 4680, 4650, 4620;
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