Gold is expected to continue pushing higher today, targeting 4800.

Yesterday, gold saw a slight pullback and adjustment. After dipping to the 4638 level, it quickly stabilized, bottomed out, and rebounded. Throughout the day, it maintained a choppy and upward-leaning trend, and ultimately closed at 4720.

Each pullback saw a large number of buy orders enter the market to take over. The bears’ downside follow-through is clearly no longer strong enough. The bulls firmly hold the key support level, with the market’s lows continuously rising, and the overall upward trend remains intact.

On the news front, before the market data was released last night, the short positions we had laid out in advance have steadily taken profits. With rate-cut expectations continuing to heat up in the market, the US dollar remaining weak, and added safe-haven support driven by geopolitical risks, gold receives strong backing.

From a technical perspective, the short-term bulls’ comeback momentum is strong. The market has the drive to keep moving higher. In the next phase, it is likely to continue rising and test the resistance at the prior high of 4773.

**Trading Suggestions**
If the gold price pulls back to the 4680–4700 range and stabilizes, you can enter long positions. Targets are 4750 and then 4780, with the final target looking toward 4800.
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