On Monday's open, the US dollar continued its strength, hitting a new half-month high, while gold prices surged to 4514 before pulling back to around 4500 for consolidation. Tensions in the Middle East provided safe-haven support, but the hawkish stance of the Federal Reserve continued to pressure gold prices. Last week, gold initially declined then rebounded; early in the week, expectations of rate hikes dragged prices down to 4098, but geopolitical conflicts, central bank gold purchases, and technical oversold rebounds helped recover losses. The weekly chart closed with a long lower shadow bullish candle, with significant support from buying interest below.

Fundamentally, the Federal Reserve minutes signaled that high interest rates may be maintained longer, with the rate cut expectation for the year reduced to once and delayed until after September. US Treasury yields and the dollar's strength increased the cost of holding gold. This week, inflation and non-farm payroll data will be key; if the data is positive, it could further suppress gold prices, while Middle East tensions and central bank gold purchases provide support at lower levels.

Technically, in the short term, focus on the 4350-4400 support zone; a break below could see a move toward 4250-4300. The key resistance levels are 4550-4600; a breakout above would confirm a double-bottom rebound. The four-hour chart shows a V-shaped reversal followed by narrow-range consolidation, with fierce battles between bulls and bears. For today’s short-term trading, mainly buy on dips and sell on rebounds, with a focus on resistance at 4520-4555 and support at 4420-4400. $ETH $GT $BTC