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

(1) Analysis reasons: Gold remains at a high level supported by Middle East safe-haven demand, but rising oil prices have strengthened expectations of a Federal Reserve rate hike. A stronger US dollar and rising US Treasury yields are limiting gold’s rebound space. In the short term, gold is in a tug-of-war between bulls and bears. Watch for geopolitical risks, Federal Reserve policy expectations, and key technical support levels. (2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation (3) Resistance: 4100, 4120, 4150 (4) Support: 4020, 4000, 3980;