Macroeconomic Situation of GoldGoldOANDA:XAUUSDuybew3Gold's overall trend has been repeatedly discussed. At the beginning of the year, the price fell from its historical high of 5596 to 4404, then rallied to 5418 before a second round of selling to the channel support at 4100. Currently, it is in an upward cycle. In the short term, the US-Iran situation has led to repeated fluctuations, and the Fed's rate cut will likely test the 4900-5000 range. However, technically, it is facing resistance from the channel, and in the medium term, it is expected to pull back to 4500 and below after a surge. After consolidating in the 4700-4800 range on Thursday, it rebounded again during the day. The price dipped to 4736 before rebounding. Pay attention to the progress of the US-Iran talks over the weekend. The overall outlook remains bullish towards 4900. Short-term support overnight is at 4760-4740, with strong support at 4720. Short-term resistance is at 4800, with strong resistance at 4856. A break above these levels could lead to 4900-5000. In terms of trading strategy, short-term buying on dips is recommended. For physical gold holdings, wait for opportunities below 4500. Strategy 1: Buy near 4740, with a stop-loss at 4710, and a target of 4900-5000; hold if it breaks through.