Spot gold short-term trading advice: range-bound fluctuation, buy on dips, sell on rallies

(1) Analysis: Rising energy prices have pushed up inflation expectations, prompting the market to reassess the Federal Reserve's interest rate path. The US Dollar Index and US Treasury yields remain high, which puts some pressure on gold. However, ongoing geopolitical uncertainties continue to provide safe-haven support. Technically, after a pullback from the highs, gold prices have entered a consolidation phase and may maintain a short-term oscillating pattern. Pay attention to guidance from US employment data. (2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation (3) Resistance: 4500, 4520, 4550 (4) Support: 4450, 4400, 4380;