The recent strong performance of gold is primarily driven by the resonance of risk aversion demand and interest rate cut expectations. Although U.S. Treasury yields have rebounded in the short term, creating local pressure, it has not changed the medium-term upward trend. The short-term fluctuations appear more like a buildup within the trend. From the 1-hour perspective, gold is currently in a recovery phase after a sharp decline. The DIF has crossed above the DEA, forming a golden cross, and the MACD histogram is positive, indicating a signal of short-term bullish momentum warming up. Key resistance to watch above is the 4250-60 level, while the short-term support to watch below is the 4190 level, with important support at 4165-75. Enter long positions on gold around the 4200 level, targeting the 4250-4260 range! Short positions can be initiated near 4250, targeting 4190–4170
