Today's gold price movement once again followed expectations! A short position was suggested near 4070 at the open. The first wave of the rally reached a high of around 4072 before retracing, reaching a low of around 4045 before rebounding again. Another short position was suggested near 4080 in the European session, which took profit. Furthermore, we clearly stated in our channel today that the US and Iran were likely to restart negotiations at any time in the next few days. Then, the US market announced that an agreement would be reached today or tomorrow to reopen the Strait of Hormuz, and Middle Eastern media also reported the same sentiment, indicating that an agreement is nearing completion. This is a rare positive for gold prices, which have been consolidating at low levels in the short term, hence the multiple new highs reached throughout the evening.

Gold is currently trending slightly higher amid news-driven volatility. The recommended strategy is to buy on dips, with short-term support around 4050-4065. However, with limited data releases at the start of the week, a significant one-sided move is unlikely. Don't be overly fearful of rebounds; they merely create more opportunities for shorting. The 4-hour chart shows strong resistance at 4100-4115.

Gold is currently not suitable for medium- to long-term trading due to its heavy reliance on news and the rapid data releases this week. Sustained bullish or bearish trends are difficult to predict. We need to adjust our trading strategies flexibly, precisely targeting entry points based on support and resistance levels to profit from swings. We've already made three trades today, both long and short, all profitable. Our trading continues.