Last Friday, gold experienced a sharp rebound after an oversold decline, with London Gold closing at around $4,490. Domestic T+D prices returned to 1,000 yuan per gram. On Monday, a wide-range fluctuation is highly likely, with a pattern of initial decline followed by rise, in the core range of $4,400–$4,550.

On the driving factors: The hawkish stance of the Federal Reserve and high U.S. bond yields continue to suppress gold prices; geopolitical tensions in the Middle East provide safe-haven support. Technically, $4,400 is a short-term support level, while $4,550–$4,560 is a strong resistance zone.
In terms of trading strategy: Avoid chasing longs or blindly bottom-fishing; consider light positions on dips to $4,400–$4,420 for a long attempt, with a stop loss at $4,380; on rebounds to $4,540–$4,560, try short positions with a stop loss at $4,580. Strictly set stop losses, control position sizes, and be cautious of weekend geopolitical news causing gaps.