From a 4-hour technical perspective, we can capture two key signals: first, the KDJ indicator is weakening and has fallen below the critical line; second, the MACD has failed to provide positive guidance. The combination of these two signals suggests that gold prices are likely to remain in a small range of fluctuation in the short term. In practice, special attention can be paid to support levels 4195, 4183, 4156, and resistance levels 4221, 4235, as these points can serve as important references for short-term trading.

Looking at the fundamentals, this week's Federal Reserve meeting is the market's "main event." Currently, 88.4% of investors expect the Federal Reserve to cut interest rates by 25 basis points, but the uniqueness of this meeting lies in the significant policy disagreements within the Fed, making it the most controversial meeting in years. For traders, it is crucial to focus on the policy direction and internal dynamics released by the meeting, as this will directly affect the future trend of gold.