Today $XAU maintains a strong upward momentum. In the Asian-session hours, it kicked off its push from the 4115 area, with buy-side capital pooling in to drive gold prices to quickly surge higher, topping out at the 4195 phase high.

This current upswing is driven by three factors converging: the continued strengthening effect of the Non-Farm Payroll data, Fed rate-cut expectations rising steadily, and ongoing risk-aversion support from the geopolitical situation.

On the 10-minute cycle, after gold prices surged and pierced the BOLL upper band, they quickly returned to the trading channel. In the short term, the moving averages are turning downward, and the MACD is simultaneously showing a top divergence signal, meaning there is a need for a pullback and correction in the short run.

Set up short positions in the 4180–4200 rebound range, targeting 4150 and 4100.