Gold staged a sharp rebound from its low, rising over $100 from 4021. The dollar is quickly approaching 100.50. Structurally, the A-wave decline from 4202 has ended, and yesterday was a B-wave rebound — with 4202-4021 as wave A and 4021-4137 as wave B-a. It is expected to first drop to around 3960 before heading to 4350. The current decline has not yet concluded. Long positions should be closed for profit, as a new round of decline may restart. The rebound is unlikely to begin until the second half of next week, after inflation data is released and provides clarity. Today's resistance is 4137, support 4050.