Recently, gold has been on a fierce rally, driven by several forces. Geopolitical tensions are unstable, with US military actions in Venezuela, unrest in Iran, ongoing confrontations between Russia and Ukraine, and a dispute over Greenland—all of which are solid triggers for safe-haven buying. Meanwhile, central banks around the world continue to buy gold steadily, providing ongoing fundamental support for the upward movement of gold prices. From a long-term perspective, with real interest rates in a downward cycle and increasing demand for gold from the tech industry, these factors firmly support the logic of gold prices moving higher.

What about the technical analysis? The four-hour K-line hits the upper Bollinger Band and begins to retreat. The MACD histogram is shrinking but still above the zero line, indicating that the bullish momentum has not fully dissipated. The one-hour KDJ has turned downward, signaling a short-term correction phase. On the five-minute chart, gold found support around 4570 and then rebounded. The correction is not large, and it is expected to be absorbed through sideways consolidation to relieve technical pressure.

The trading strategy is very clear: buy on dips. You can consider building long positions in the 4560 to 4570 range, with the first target at 4600. With signals of short-term stabilization and a medium-term upward trend, this wave should be profitable.