Consolidation and Recovery PhaseGoldOANDA:XAUUSDDylanGoldmanCore Support for the Bulls: Four Key Factors Supporting the Market, Deep Declines Unlikely Below 4320 1.Strong Support from Central Bank Gold Purchases: Global central bank net gold purchases reached a record high in 2025, with 95% of central banks planning to continue increasing their holdings in 2026. The 4300-4330 range is a key area for concentrated central bank gold purchases and also coincides with the daily Bollinger Band middle line support level. Sharp dips are met with buying pressure, demonstrating strong support resilience. 2.Unchanged Fed Rate Cut Cycle, Long-Term Bullish Trend: Three rate cuts were implemented in 2025, leading to a decline in US inflation and a rise in unemployment. The overall direction of rate cuts in 2026 is clear, with lower real interest rates reducing the cost of holding gold. The previous sharp drop was merely a short-term emotional release, not a trend reversal; pullbacks present buying opportunities. 3.Urgent need for a rebound after the sharp drop: Gold prices plummeted $246 from $4549 to $4303 in a single day, representing an excessive short-term decline and creating a technical need for correction. The hourly MACD is showing a golden cross, and the $4350 level has been confirmed as support, with rebound momentum gradually building. 4.Limited selling pressure from the weak dollar: The dollar index rose to 98 before retreating. The unresolved issue of the $38 trillion US debt burden weakens the dollar's credibility, making sustained strength unlikely and thus limiting its ability to suppress gold prices, leaving room for a gold rebound. Gold trading strategies buy：4335-4345 tp:4355-4365-4380