In-depth Analysis of Today's Gold MarketGoldOANDA:XAUUSDFelix-WarrenIn-depth Analysis of Today's Gold Market On Thursday, gold prices retreated steadily from the previous high of 4449. After facing resistance at the peak, bulls engaged in concentrated profit-taking; this, combined with signs of sticky inflation in the core PPI and a slight rebound in US Treasury yields, drove prices down to the 4320 level. The market narrative has shifted from a one-sided bullish rally to a phase of deep correction following that surge. While the medium-term bullish structure remains intact, short-term bearish momentum has clearly strengthened. Today (Friday), the primary focus is on US retail sales data for July. Coupled with end-of-week position adjustments and geopolitical uncertainty heading into the weekend, market volatility is expected to intensify, creating a high likelihood of either a rapid rebound after testing lows or a continued downward slide. Overall Outlook: The medium-term trend remains bullish, though the market is currently in a short-term corrective phase. The intraday battleground between bulls and bears is centered on the 4300 psychological level. If the 4300 support holds, the market will likely experience wide-range oscillation at high levels, offering opportunities for a rebound after stabilizing; however, a decisive break below 4300 would open the door for a deeper correction, potentially testing the 4260–4240 zone.