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

(1) Analysis: The US Dollar Index has halted its decline due to a resurgence in risk-off sentiment, while US Treasury yields remain elevated, exerting some pressure on gold. However, expectations for a Federal Reserve rate cut have not completely dissipated, and ongoing uncertainty in the Middle East continues to support safe-haven demand for gold. From a technical perspective, gold has strong support near $4,500. (2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation, US PCE Price Index. (3) Resistance: 4,580; 4,600; 4,650. (4) Support: 4,500; 4,480; 4,450.