Precious metals fluctuate downward | Significant resistance at high levels, rebound is the best time to short

London Gold current price hovers around 4615. On the surface, it seems calm, but in reality, the bearish forces are gathering in the shadows. The dollar rebounds to 99.34, bond yields rise, and combined with exchange-mandated margin requirements and restrictions on some spot funds, large capital is quietly withdrawing. Although geopolitical tensions and central bank gold purchases provide long-term confidence, the short-term pressure at hand is hard to withstand this wave of capital outflows.

From a technical perspective, things look even more discouraging. The daily chart still shows a bullish pattern that hasn't fully broken, but the RSI already indicates overbought conditions, a clear signal. The 4650 resistance level cannot be突破, and the 4600 integer level is on the verge of breaking, with even the strong support at 4580-4590 beginning to waver.

Forget about low-entry ideas; today's trading strategy is simple—buy the dip to sell. The more daring can wait for the price to rebound to the 4635-4650 range before opening a small short position. The first target is a break below 4600, the second target is 4580, with a stop-loss set above 4655; if the price directly breaks through the key support, follow the trend to short.

Disclaimer: For market opinion exchange only, not investment advice. Please trade based on your own risk tolerance. $XAU