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

(1) Analysis: US Treasury yields have risen to their highest levels since 2007, the US Dollar Index remains strong, and the opportunity cost of holding gold has increased, putting gold prices under pressure and leading to consolidation around $4,150, hitting a seven-week low. Although the US August core PCE inflation was lower than expected, which once eased tightening concerns, Federal Reserve officials continue to send hawkish signals. Gold prices are running below the moving average system with weak momentum and may remain in a weak short-term range-bound pattern.(2) Key points to watch: US Treasury yields, US Dollar Index, geopolitical situation, US non-farm payroll data(3) Resistance: 4,180, 4,200, 4,230(4) Support: 4,150, 4,100, 4,080