The four-hour chart has already clearly narrowed, and the short-term market is still maintaining a range-bound consolidation pattern, waiting to see if there can be a substantial breakout in a certain direction. The key support below is stuck around 4570. As long as this line holds, there are no signs of a trend reversal, and we can continue to use new highs as our target.

What’s most interesting is that gold and silver are performing completely differently. Gold is now steadily standing around $4615, with a daily decline of only 0.2%, showing a very restrained pace. Compared to silver’s large fluctuations, gold is clearly moving more orderly. What does this indicate? Capital has not been massively withdrawing from the precious metals sector; instead, those highly elastic assets are being hit harder, and short-term traders are reducing their positions more aggressively in these. The stability of gold actually acts as a buffer for the entire precious metals market, preventing panic sentiment from spreading further.

Recently, you can consider going long within the range of 4600-4580, with an initial target of 4650. If this level can be broken, you can then aim for a subsequent target of 4700.