Gold Surged—Don't Chase It! Here’s Your PlanGOLD (US$/OZ)TVC:GOLDrjycmxDuring early Asian trading on Monday (August 17), spot gold prices fluctuated upwards and are currently trading near $4,405 per ounce. Last Friday, spot gold briefly retraced to a weekly low near $4,310. Just as the bears seemed poised for victory, unexpectedly weak US retail sales data instantly reversed the tide; gold staged a textbook V-shaped recovery, closing at $4,375.80 per ounce—a weekly gain of approximately 0.8%. This movement was driven by a combination of cooling US economic data, expectations of Federal Reserve rate cuts, and escalating geopolitical tensions in the Middle East. While bullish sentiment is clearly intensifying, the market outlook remains heavily dependent on shifts in expectations regarding Fed policy; the release of the Federal Reserve meeting minutes this week will be a key focus. On the 1-hour chart, the price spiked and then retreated during early trading. Intraday, the $4,355 level warrants attention; a drop below this point would likely confirm a peak on the daily chart, potentially leading to a test of the $4,300 level. Overall, the recommended short-term strategy is to prioritize selling on rallies while considering buying on pullbacks as a secondary option. Key resistance lies in the $4,417–$4,420 range, while immediate support is found around the $4,300–$4,310 zone. Gold Trading Strategy Reference: Short Position Strategy: Strategy 1: Sell (go short) in batches near $4,415–$4,425 (allocating 20% of the position); set stop-loss at $4,440; target $4,380–$4,350, with a potential further drop to $4,310 if the level breaks. Long Position Strategy: Strategy 2: Buy (go long) in batches near $4,310–$4,315 (allocating 20% of the position); set stop-loss at $4,290; target $4,350–$4,370, with a potential rise to $4,390 if the level breaks.