Spot gold short-term trading advice: range-bound oscillation, buy on dips, sell on rallies

(1) Analysis: After the U.S. Non-Farm Payrolls data exceeded expectations, market expectations for a Federal Reserve rate cut have cooled, leading to a rebound in U.S. Treasury yields and the U.S. Dollar Index, which puts pressure on gold. However, the situation in the Middle East continues to support safe-haven demand, limiting a deep correction in gold prices. From a technical perspective, gold maintains a high-level consolidation structure, with short-term attention on the support near $4,650. (2) Key focus: U.S. Treasury yields, U.S. Dollar Index, geopolitical situation, U.S. employment data (3) Resistance: 4,700, 4,750, 4,780 (4) Support: 4,650, 4,620, 4,600;