Spot Gold XAUUSD opened today at 4607.87, and closed yesterday at 4596.85. The intraday fluctuations are quite interesting—rising to 4634.66 at one point, and also dipping to a low of 4569.87, finally settling at 4586.55, down 0.22% from yesterday's close.

From the 30-minute chart, after the dip to 4569.87, the reaction was very quick, with the price rebounding rapidly. Although there was some pullback after the surge, the support at the bottom remains solid. In the morning, the price fluctuated roughly between 4580 and 4600. The overall vibe is like testing the bottom while pushing upward—a typical bottoming and accumulation phase.

The underlying logic is quite clear: the expectation of Fed rate cuts is still supporting gold, US economic data has not shown particularly hawkish signals, and the dollar lacks upward momentum. Plus, the safe-haven sentiment due to geopolitical risks has been gradually accumulating bullish buying, while the bears are losing strength.

From a technical perspective, clear signals are emerging. The MACD is showing signs of a bullish crossover at a low level, with the green bars narrowing. The lower band of the Bollinger Bands at 4569.87 is firmly holding, and the moving averages are showing an upward trend. In the short term, the bullish reversal signals are beginning to take shape.

The trading strategy is to follow the bullish momentum. For a short-term buy, watch the 4570-4580 range, with a stop-loss below 4565, and target the 4610-4630 zone. If the price breaks through the 4635 resistance, consider adding positions and aiming for around 4650.