This afternoon, international gold experienced a classic V-shaped movement. After reaching a low of 4303 in the early trading session, the market showed a clear rebound. By the afternoon, prices steadily oscillated upward, ultimately reaching around 4387. From the lowest point of the day, the increase exceeded 80 points.

However, the logic behind this rebound needs to be clarified. The US dollar continues to strengthen, US bond yields are rising steadily, and market expectations for a Fed rate cut are clearly cooling down. Additionally, risk asset sentiment has improved during this period, which naturally reduces the attractiveness of gold as a safe-haven asset. In simple terms, this afternoon's rebound is just a technical correction after an oversold condition and does not signal a trend reversal.

When the price reached 4387, it encountered resistance, and trading volume shrank accordingly. The sharp decline candlestick in the early session already broke the previous short-term consolidation pattern. From the current formation, the bearish trend in the evening is quite clear.

From a trading perspective, opportunities to short can be considered within the range of 4400 to 4510, with stop-loss set above 4520 to avoid false breakouts. If the bearish trend proceeds smoothly, the first target can be around 4360, with further support levels at 4350.