Yesterday's performance of gold was indeed surprising — a single-day surge of over $75, catching many off guard with the strength of the bulls. The price is now stuck around 4670, just a breath away from yesterday's high. Everyone is speculating: will there be another wave at the open?

From a fundamental perspective, the geopolitical situation and expectations of easing are still fueling the market, but the question is — with such a large rally, everyone wants to lock in profits. If no new catalysts emerge, the bullish momentum may slow down, which is a very realistic scenario.

From a technical standpoint? The hourly chart shows clear bullish signals, and the moving averages are supporting the trend. However, the 4670 level is approaching a resistance zone, and the KDJ indicator is overbought. A direct push at the open might encounter selling pressure, so a slight pullback could be more beneficial — this would leave room for further upward movement.

So, how to operate? Avoid chasing highs; focus on buying on dips. The 4645 to 4655 range is critical; the market found support here yesterday, and short-term defensive focus is also around this zone. If the price pulls back to this band at the open, consider entering multiple long positions, targeting 4690 to 4700. If it jumps directly near 4700 at the open, don’t follow blindly; try a small short position for a pullback, but set the stop-loss above 4710.

Market changes are fast, so adjust flexibly according to your risk capacity and ensure proper risk management at every step.