How were the gold market trends last week? Let's review (December 29 to January 2).

Overall, gold followed a typical "rise - pullback - consolidation" pattern. The previous days saw an upward momentum, but in the second half of the week, the trend suddenly shifted. Regulatory policy adjustments and reallocation of funds directly pulled market sentiment from euphoria back to calm.

Specifically, each day: December 29th experienced very high volatility, as the margin increase directly pushed prices down, marking the largest single-day decline since October. The next day, the market eased, and by the afternoon, prices gradually stabilized at a key support level. December 31st was New Year's Eve, with light trading activity, and gold prices remained in a narrow range. January 1st was a holiday, so the market was closed for a day. On January 2nd, despite a gap-up at the open, prices retreated again, and the entire day was spent in consolidation, with some medium- and long-term funds taking advantage of the low points to position.

Looking back over the week, how do we see it? Gold prices shifted from strength to stability as the market digested the previous gains. Profit-taking sell-offs and regulatory constraints together pushed prices downward, increasing volatility—this also serves as a reminder for investors to be more cautious and not to slack on risk management.

What about the outlook? In the short term, gold prices may fluctuate within the 4300-4450 range, with bullish and bearish forces roughly balanced. But on a longer cycle, expectations of interest rate cuts remain, and the continued central bank purchases globally haven't changed, so the support remains relatively solid. I recommend everyone to stay patient, avoid chasing highs or selling lows, and wait for new catalysts to emerge.