April 29th, gold at 4644 key support level broke, contract traders should not think twice, just sell off immediately, if next week’s closing cannot stay above 4630, then the bearish trend will continue. Currently, if it drops below 4100, the half of the rally from the bottom is around 4400, which is exactly 0.618, and this is also the core observation point for me at the moment. At this position, paper gold can be entered, and from 4400 to 4300, it has stabilized after stopping the decline and started to rebound. Re-enter with leverage, long-term, global central banks’ gold buying demand still remains strong, and factors like the US fiscal deficit and debt issues will provide a solid fundamental basis for gold. The short-term trend will heavily depend on the hawkish or dovish tone of the FOMC statement at 2 a.m. today. Everyone can pay attention to this.