Spot gold short-term trading advice: trade within the range, buy on dips, sell on rallies

(1) Analysis Reason: The weakening US dollar and geopolitical hedging demands support gold prices, but the lack of full escalation in the Middle East situation limits the sustainability of safe-haven buying. Meanwhile, the market awaits US employment data to guide interest rate expectations, US Treasury yields are experiencing greater volatility, and the short-term long/short struggle in gold has intensified. Technically, prices are in a high-level consolidation range, with upward momentum slowing down. (2) Key Focus: US Treasury yields, US Dollar Index, geopolitical situation (3) Resistance: 4650, 4680, 4700 (4) Support: 4600, 4550, 4520;