Yesterday, gold opened lower and then rose throughout the day, touching a low of 4600 and climbing to 4706, with nearly 100 points of daily volatility. The non-farm payrolls negative impact combined with the market holiday effect has been fully absorbed, and the market pressure has significantly eased.

Currently, gold prices are still within the upward trend channel, and the bullish trend remains intact, but the upward momentum has slowed, and short-term rally strength is insufficient. Support levels at 4640 and 4610 are effective. Without any major news triggers, it is likely to maintain a range-bound fluctuation between 4640 and 4700.

In terms of trading strategy, go long at the 4640 support level, with a short-term target of breaking through 4680, and stabilize to look for a move toward 4730.