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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