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On Monday, gold habitually opens lower again, and in recent weeks, this has been the script—opening low on Monday, then gradually stabilizing and rebounding, almost a fixed pattern now.
Today’s thinking is very clear:
The resistance above is at 4740—4780. Until it breaks through, it remains sideways consolidation.
The key support below is at 4680—4640. As long as this range is not effectively broken downward, there's no need to panic and expect a sharp drop to 4550.
Last week’s market trend was very obvious; the main force was just oscillating and shaking out traders, pulling back and forth.
This kind of movement is most suitable for high selling and low buying; there's no need to constantly worry about extreme one-sided trends. Keep a steady rhythm and trade within the range.