On April 16th, spot gold initially surged but then pulled back overall. After reaching around 4870 during the day, it started to decline, showing a clear weakness throughout the day. The main reason is that the previous rally was too strong, and many traders took profits and exited, coupled with a rebound in the US dollar, which suppressed gold prices. The daily chart closed with a long upper shadow and a bearish candle, indicating weakening bullish momentum. From a technical perspective, the 4800 level was broken, with heavy resistance at 4830-4850 above, and support levels at 4780-4750 below. Overall, the market is entering a high-level consolidation phase, with trading strategies focusing on range-bound operations.