Yesterday, gold prices once again pushed higher but met resistance and then fell. The low dipped to around the 4,110 area.

Since turning down from the 4,116 high area, the subsequent highs have kept moving lower, and the bearish trend is clear.

Although there were brief rebounds along the way, none managed to effectively break through the key resistance; overhead pressure remains obvious.

The US dollar continues to trade at high levels with volatility, suppressing gold prices. At present, the rebound is unlikely to change the weak market structure.

Trading suggestion: short in the 4,035 and 4,050 area, with targets at 4,000 and 3,950.