#美国消费者物价指数发布在即 Gold hits a new high again, but we need to understand the logic behind this wave of market movement.

Recently, the gold market has been extremely hot. First, there were rumors from the Federal Reserve, followed by escalating geopolitical tensions—Panama Canal exercises, ongoing Middle East conflicts—these events kept coming one after another, directly pushing gold prices to a new high of 4630.

From a market perspective, risk aversion sentiment has been fully ignited. Whenever the world "fevers," gold, as a traditional safe-haven asset, begins to rally, and recent performance clearly demonstrates this. The rapid new highs indicate that concerns over risk assets are very real.

But there's a problem: the faster it rises, the more caution is needed.

Although the overall trend is indeed strong, from a technical standpoint, there are already clear signs of resistance in the short term. The recent high of 4630 now appears somewhat "heavy," and 4610 is a key support level. This kind of movement usually suggests that the market may need a correction to digest this rapid increase.

Chasing the rally now carries significant risks. Instead of betting on this move, it’s better to wait for a better opportunity.

A more prudent approach might be:

**Short-term trading perspective**: Consider a short position around 4610, with a stop-loss at 4623, and target the 4570-4560 range.

**Mid-term layout**: Once a correction reaches around 4550, it could be a good entry point for long positions, with a stop-loss about 40 points, aiming for 4590-4600.

The key is patience. No matter how intense the intraday volatility, don’t lose your rhythm. Trend trading requires taking it step by step. $BTC