Recently, the US core CPI has been below expectations, and market sentiment has eased somewhat. From the precious metals market perspective, gold's performance remains quite interesting.

The price was initially suppressed, but the bottom just found support near the 10-day moving average. This Monday, the opening price gapped higher, then retested the 5-day moving average but quickly stabilized, continuing to push upward, approaching 4690 at one point. Looking at the short-term trend, the support from the moving average system is quite evident. On the 1-hour chart, the golden cross and bullish alignment of the moving averages are still in place. After consolidating yesterday, gold firmly stayed above 4650, which has now become an effective support level.

In simple terms, short-term gold prices are basically stabilizing above 4650. If today’s early trading revisits around 4650, buying on dips can still be considered. From a broader perspective, after accumulating momentum, gold is likely to continue its upward trend, and the current bull market pattern remains unchanged.

**Trading Strategy**: If the price retraces to 4660-4650, consider going long; once it stabilizes above 4680, add to long positions. Be cautious with a breakout above 4700, and if it stabilizes, look towards 4720-4750. Existing positions below can be reduced accordingly, and hold above. Light positions can be used to test short positions near the integer levels.

(Note: The above is only market analysis; please trade cautiously.)