Today's gold market can be described with one word—ferocious. The Asian session opened with a sharp rally, soaring from the 4591 level all the way up to 4639, nearly a 50-point daily increase, leaving bears no chance to catch their breath. This is the textbook-level bullish performance and the true strength of gold driven by trend.

Why is gold so strong? Just look at these factors.

First, the US November retail sales data is expected to be 0.4%, and market expectations for a soft landing of the US economy are heating up, directly suppressing the attractiveness of the dollar, with a large flow of funds turning into gold. Second, the global geopolitical situation is becoming increasingly tense—Middle East issues, Red Sea shipping—these are all labels embedded in gold’s safe-haven attributes, with buying pressure continuously flowing in. Furthermore, the market consensus is that the Fed’s rate cut cycle will start in 2026, and US Treasury yields are being continuously suppressed, significantly lowering the opportunity cost of holding gold. This is the core engine behind this round of rally.

From a technical perspective, the price is steadily operating near the upper Bollinger Band, with the band widening, indicating that bullish momentum is still accelerating. The short-term moving averages are perfectly aligned, with strong support at 4615-4620. Under this pattern, the short-term strength is already certain.

How to operate? The bullish approach follows one principle: follow the trend, buy on dips. Wait for the price to stabilize after pulling back to 4620-4625 before entering, with the first target at 4640-4645. If broken, look at 4650-4660, with a stop below 4615. If you insist on shorting, wait for clear signs of stagnation, enter with a small position, and go in when pressure candlesticks appear at 4645-4650, targeting 4630-4625, with a stop at 4655.

Honestly, fighting the market is the dumbest thing. Today’s one-sided trend has already told us: follow the trend, patiently wait for the pullback to enter, and this is the key to stable profits. Chasing highs at high levels or going against the trend to short will only make you fight yourself.