Overnight gold prices initially declined then rebounded, gaining effective support at low levels and stabilizing. The bullish signals during the session strengthened, and the market entered a rebound correction phase. For intraday trading, it is recommended to buy on dips mainly.

From the news perspective, several major economic data releases have recently come out, and overall market sentiment is cautious. The tug-of-war between bullish and bearish factors has caused short-term fluctuations in gold prices. However, negative sentiment has largely been released, and market risk aversion demand has warmed up, providing a mild boost to gold. The short-term price center of gravity is gradually moving upward.

Technically, gold is still in a range-bound oscillation structure, with the bullish and bearish forces relatively balanced, temporarily lacking the momentum for a unilateral breakout. There is short-term resistance above, and support from buyers below is relatively solid. The market has completed a correction through oscillating washouts, typical of a consolidation pattern. As support at low levels continues to be confirmed, the probability of a short-term bullish rebound keeps increasing, with a clear trend of oscillating strength.

In terms of operation, if the price retraces to around 4290–4310, consider establishing long positions. The targets above are sequentially 4330, 4355, and near 4380.