Personally, I think gold has almost finished adjusting and is likely to start a rising trend next. It is currently testing the key level of 4800.

Although negotiations collapsed over the weekend, the fundamentals are improving and short-term sentiment is recovering, though the situation remains unstable. In my view, both technically and fundamentally, gold has a high probability of continuing to rise.

Focus on the 4750 support and 4800 resistance. Once it holds above 4800, it will surge further. The consolidation near 4750 is also building momentum for the next upward move.

Resistance: 4800āˆ’4850
Support: 4750āˆ’4700