Gold price weakens, trade in swing rangesGoldOANDA:XAUUSDcusxgqSpot gold retreated from highs and trended downward with volatile fluctuations. Short-term bearish factors prevail. The Federal Reserve maintains a hawkish monetary stance, cooling rate cut expectations. A stronger US dollar and profit-taking by long traders keep weighing on gold prices. Nevertheless, solid fundamentals offer long-term support. Continuous gold purchases by global central banks and lingering geopolitical risks limit sharp downside risks. Key technical levels are clear. 4450 serves as a critical defensive support, with further support at 4430 and 4400. Resistance levels stand at 4580 and 4600. The short-term market leans bearish. Prioritize short selling near resistance levels, and take light long positions at key supports. Trade range-bound swings by selling high and buying low. Trading Strategy Short positions: 4580-4600 Stop loss: above 4610 Take profit: 4550-4530