Gold still maintains the previous view that the precious metals market will not see a significant rally in the first half of this year.

Currently, gold is experiencing a consolidation phase. In the short term, within 1-2 weeks, it is expected to rebound to around $4,900, which is the Fibonacci 0.618 level of the daily downtrend.

However, this rebound is a short-term opportunity to reduce positions; do not chase the high. It is highly likely that the price will retest around $4,200 later.

In the later stage, pay attention to whether the $4,000 psychological level can hold, and then consider bottom fishing.