Gold this week initially rose then fell, dropping to a low before gradually stabilizing. Last night, U.S. data released was average, the dollar weakened, and gold rebounded sharply from the 4510 level, directly surpassing the 4600 mark.

In the short term, the market trend has shifted from decline to rise, but currently prices are relatively high, and with the May Day holiday leading to quiet market trading, a range-bound consolidation is likely to follow.

Looking at the trend, the daily chart has stopped falling and started to rise, with prices stabilizing above the short-term moving averages, indicating weakening bearish momentum, and gold prices are beginning to warm and rebound. After consecutive gains on the four-hour chart, prices are consolidating sideways at high levels, with moving averages trending upward overall, and the trend steadily lifting, with solid support below. The hourly chart is currently oscillating at high levels, with upward momentum weakening, and a slight pullback is expected in the short term. After the correction, the overall trend remains upward.

Today, the market is generally leaning towards oscillating higher, so avoid blindly chasing the rally, and reasonably control positions.

Pull back to the 4560-4575 range for a dip.
Short-term buy near 4650-4660 on a rebound.
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