The short-term deep correction and shakeout have ended, and the bullish rally for gold has officially sounded the horn.

On the international front, the geopolitical conflict between Iran continues to fluctuate, regional tensions remain uncertain over the long term, and the global energy landscape has been impacted. The safe-haven nature of geopolitics consistently provides a solid support level for gold. Even though short-term risk sentiment has temporarily improved, geopolitical risks cannot be eliminated and may soon boost safe-haven buying again.

After a significant decline on the four-hour chart, technical indicators have entered oversold territory, with the KDJ low position brewing a reversal signal, and downward momentum gradually weakening. The support near the lower Bollinger Band is strong, and the price is approaching a key support zone, with the correction space greatly compressed.

Suggestions:
Buy on dips around 4670-4690 in batches, aggressive traders can buy near 4700, with targets at 4750, 4780, and a break below to watch for 4850.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Operate at your own risk.