Gold has repeatedly staged the "one foot on the gas and one foot on the brake" scenario, especially in the latter half of the US session where the short selling has been exceptionally intense. The gold price successfully reached the historic high of 4500, with the rising process accompanied by repeated shakeouts. Last night, in the latter half, the price quickly dropped from 4500 USD to 4430 USD, and this rapid pullback at high positions may be taken out by a wave of selling.

In the early morning, the gold price quickly dipped to the 4330 position, and a V-shaped reversal staged a strong rebound. Focus on the 4470 position; today, if there’s a pullback near this position, consider buying more, without chasing. The rise during the Asian session must be assessed against the strength of the European session. Today, gold can be bought in the range of 4480-70, and upward focus on the 4510 position. If there are no opportunities, be patient and wait for the pullback before the US session. Additionally, note that market movements may occur before Christmas due to market closures!