Gold: Short‑term trade with buy‑low and sell‑high strategyGoldOANDA:XAUUSDgpvsagThe U.S. PCE inflation data came in higher than expected, indicating inflation is not cooling rapidly. Markets immediately scaled back expectations for aggressive Federal Reserve rate cuts within the year. U.S. Treasury yields and the U.S. dollar rebounded in tandem. A large number of long‑position profit‑taking orders had built up on the market, and capital rushed to exit amid the data‑driven bearish sentiment, pulling gold prices slightly lower. Meanwhile, Middle‑East safe‑haven sentiment faded, prompting withdrawal of safe‑haven buying flows and further amplifying short‑term downside pressure. Besides, the key event for this week is the Jackson Hole Global Central Bank Symposium, especially the speech by the Federal Reserve Chair. The whole market is now on hold, waiting for policy cues. Short‑term price action has shifted into a broad high‑level range‑bound mode. The market has room to move both up and down, and frequent whipsaws are likely to trap retail traders. Resistance zone stands at 4640‑4660. Short‑term short positions can be initiated on rebounds into this range. On pullbacks, if price finds stable support between 4580‑4600, small‑size long positions may be opened to capture corrective bounces. Gold is currently in a consolidation phase after a sharp rally. Adopt a range‑trading mindset and avoid chasing tops or selling bottoms. 🥇 I deliver objective market analysis every day.