Last week, gold's overall performance was mainly range-bound. After rebounding to test the $4100 resistance level, it failed to hold, and similarly, it repeatedly fell back to the $4000 level without breaking through. Currently, the US-Iran conflict fluctuates, sometimes escalating and sometimes easing, leaving the market directionless. Gold is currently awaiting more favorable fundamental catalysts.

Today, gold gapped up but failed to continue its upward trend, mirroring last Monday's movement. While gold appears strong, its momentum is weak. Currently, the price remains trapped in a range-bound pattern between $4000 and $4120. Only a breakout from this range will provide a clear trend.

Today's key level is around $4083, which is today's high. Last Friday's decline started at around $4088. Therefore, the main resistance area for gold is currently in the $4080-$4095 region, which is also our shorting range for gold today. The key support level to watch is the $4015-$25 region.

Friendly reminder: The current direction of gold is not very clear, so do not blindly speculate on its direction. It is a more rational choice to trade only when gold returns to key levels.