The weekly gold chart closed with a downward candle, marking the first bearish candle since a four-week consecutive rebound. The bullish momentum has clearly weakened, combined with complex and volatile market fundamentals, the trend has entered a phase of significant fluctuation and correction. Unexpected events over the weekend caused short-term market volatility; gold rebounded after hitting a low in the early session, but multiple daily moving averages are flat, with no clear direction, and the four-hour chart also remains in a range of oscillation.

The situation in the Middle East is gradually easing, and market focus has shifted back to U.S. monetary policy. Coupled with the monthly chart closing, the first half of this week is expected to be mainly volatile, with a high probability of a slight unilateral move in the second half, which will determine the future trend of rise or fall.

Key range: 4666-4742, with the market repeatedly testing the balance between bulls and bears. During the daytime rebound near 4742, consider shorting; on a pullback around 4680, look for low buy entries.

In a ranging market, short-term interception is the main strategy. Avoid blindly chasing gains or cutting losses; once the price breaks the range, follow the trend accordingly, and maintain a steady trading rhythm.