Continued fluctuations. Be aware of range breakouts.

Gold remains oscillating between $5020 and $5120, with the range compressed to less than $100. The longer the consolidation lasts, the stronger the breakout will be. Currently, there is no clear trend between bulls and bears; the only difference is in the price levels. Sell short near the high point of a rebound or buy near the support level after a pullback. It is worth noting that if the range is broken, you need to stop loss or close the position in time.

Secondly, the impact of fundamental data is limited. What often happens is the adjustment or attitude of Trump's policies. These are not predictable by fundamentals and are driven by unexpected events. The price reaction is broken within the range, and the original sideways trend will be broken.

Technically, the market is in a range-bound oscillation, with neither rallies nor pullbacks being sustained, but a breakout from the existing range is possible at any time.

In the short term, consider shorting above $5120. For long positions, consider establishing positions in the $5030-$5050 range and holding them after a breakout.