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Currently, spot gold is fluctuating around $4,720, with the New York gold futures closing at $4,767.40 per ounce. The unsuccessful US-Iran negotiations combined with rising oil prices and the continued rise of the US dollar index are suppressing gold prices. Strategically, it is recommended to watch the support levels around $4,650—$4,680, with resistance above at $4,800—$4,850. In the short term, the market may continue to oscillate weakly, so it is advisable to be cautious and avoid excessive trading, waiting for key data releases to determine the next direction.