Yesterday, international gold hit a new high again. Opening around $4,588, it surged to $4,642 but failed to stabilize, finally closing at $4,626, up 0.87%, which fully recovered Tuesday's decline. The bullish trend remains solid.

There are many supporting factors behind this. Geopolitical tensions are still fermenting, the Federal Reserve's independence is frequently questioned, central banks around the world continue to buy gold, government debt pressures are rising, and the expectation of two rate cuts this year remains unchanged—these factors combined have laid the foundation for the rally. Industry insiders expect the price to potentially surge to $5,000 within the year, with $5,500–$6,000 also within sight.

However, there is some recent pressure. US November retail sales and PPI data both exceeded expectations, and gold faced resistance around $4,640. But this intraday pullback is just a technical correction, not a trend reversal.

On the technical side, the monthly chart has already broken out strongly to the upside; the weekly target points to $4,700; the daily moving averages are still providing support. Support levels below are at $4,585 and $4,550, while resistance levels above are at $4,660 and $4,680. For silver, support is at $91.50 and $89.40, with resistance at $93.70 and $96.00.

The key is to keep an eye on buying on dips and not to be scared by short-term fluctuations.