Spot gold short-term trading recommendation: range-bound fluctuation, buy on dips, sell on rallies

(1) Analysis rationale: The ongoing situation in the Middle East continues to provide safe-haven support for gold, but climbing U.S. Treasury yields, a strong U.S. dollar, and expectations for the Federal Reserve to maintain high interest rates are restricting gold's upward movement. Ahead of the non-farm payroll data release, the market is characterized by strong wait-and-see sentiment, and gold may remain volatile at high levels in the short term.(2) Key focus: U.S. Treasury yields, U.S. Dollar Index, geopolitical situation, U.S. non-farm payroll data(3) Resistance: 4480, 4500, 4520(4) Support: 4420, 4400, 4380