Gold 12.9 Evening Trend Analysis:

Today has reached a critical time point, and it is expected that the gold price will first test the support level downwards before gradually rising back up.

On Thursday morning, the Federal Reserve will announce the last interest rate decision of the year. In the past, before each announcement, market sentiment has generally been quite optimistic, often leading to a wave of preheating market activity. Therefore, the current pullback seems more like a short-term fluctuation, and the momentum for further declines is not strong.

Looking at the weekly chart, whether it is the Bollinger Bands or the major moving averages, there is no clear bearish arrangement, and the overall upward structure has not been broken. The recent pullback is just a normal correction in the trend and is not a signal for a market reversal.

In terms of operations, buying a little near 4200 with a light position is advisable, targeting 4220 first; if it can break through 4235.