Spot gold short-term trading advice: range-bound oscillation, buy on dips, sell on rallies
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(1) Analysis rationale: The short-term pullback of the US Dollar Index combined with uncertainty in the Middle East continues to support gold maintaining its high levels. However, the market is awaiting US PCE inflation data, and expectations of high Federal Reserve interest rates still limit further upside for gold prices. From a technical perspective, gold maintains a strong volatile structure and may fluctuate repeatedly around the high range in the short term. (2) Key focuses: US Treasury yields, US Dollar Index, geopolitical situation (3) Resistance: 4580, 4600, 4650 (4) Support: 4500, 4480, 4450;
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