Spot gold short-term trading suggestion: trending upwards, consider buying on dips

(1) Analysis: Fiscal pressure in the United States and the renewed rise in long-term Treasury yields have brought renewed attention to gold’s safe-haven and value-preservation qualities. At the same time, market expectations for further Federal Reserve interest rate hikes this year have cooled, supporting gold prices. Gold is nearing a key resistance zone in the short term and is expected to continue fluctuating upwards. Continue to monitor the statements of the Federal Reserve Chair at Jackson Hole, as well as the performance of long-term U.S. Treasury yields. (2) Key items to watch: U.S. Treasury yields, US Dollar Index, geopolitics. (3) Resistance: 4650, 4700, 4750. (4) Support: 4600, 4560, 4520.