On September 28, gold's overall trend has recently been weak, continuing to come under pressure and pull back, and the core logic of the market has clearly shifted. Earlier, slow progress in U.S.-Iran peace talks and safe-haven sentiment from geopolitical tensions had once provided support to gold prices. But the impact of geopolitical risk has now cooled rapidly and is no longer a key factor driving gold prices. The market's entire focus has completely shifted back to the Federal Reserve's monetary policy, and market funds have front-run the possibility of a Fed rate hike within the year, which is the core reason for gold's recent persistent weakness. Still, there is no need to be overly bearish on gold now, because after the sustained decline, bearish forces in the market have gradually been exhausted. Gold's downward momentum is getting weaker and weaker, its downside space has already been greatly compressed, and a sustained sharp decline will not appear for the time being. At this stage, gold has also overall entered a pattern of bottoming out at low levels and repeated oscillation, with the pace of gains and losses quite chaotic. In the short term, it is still difficult for the market to form a clear one-way trend, and the overall market is basically in a state of stalemate and consolidation. This week, the gold market will also usher in a key turning point, as market movement is no longer driven by technical trends but depends entirely on major U.S. economic data. The core inflation data PCE, which the Fed values most, is due on Wednesday, while the highly watched nonfarm payrolls report will be released on Friday. These two sets of data will directly determine the Fed's subsequent rate hike pace and will also completely set gold's future direction, making them the biggest variable for the gold market this week. From the current technical picture, gold is still maintaining a weak, oscillating pullback rhythm. Last week's rebound was also very limited, reaching a high of only 4316, neither breaking above the previous key high nor holding onto the rebound gains, and with Monday's rapid decline again, it has basically given back all of last week's short-term gains. Next, since the short term has fallen back again, then just like last week, we will continue to first look for a rebound repair, then see whether this rebound can follow last week's pattern and again wait for the market to test the pressure at last week's short-term highs. Today's short-term trading levels can be referenced as follows: 1. At the current gold price, we can temporarily rely on support near 4190 below to go long first. If it continues to fall and tests a new low again, then below we can consider adding another long position near 4180, with the overall stop loss placed near 4170 below to prevent a continued one-way decline. For long positions at this level, we will then look above to 4245-4265. Once the long side extends strongly, we will further look toward the previous highs near 4285-4305 above. 2. In today's short-term trading, we still first look at the initial pressure situation near 4245-4265 above. If it does not break there, that will be the key level for us to consider shorting again. If we enter a short at this level, we place the short stop loss above 4285 to prevent a one-way rebound, and the short target will then be seen near 4215-4195 below. Combined with the current market rhythm, the morning session has already fallen first, so in the afternoon there is a high probability of a small rebound. Therefore, in subsequent operations, we can first rely on support below to look for a rebound, and then wait for the market to test the pressure level above again before considering another short-term short position. Sina partner platform futures account opening is safe, fast, and protected. Sina statement: This message is reposted from a Sina partner media outlet, and Sina publishes this article for the purpose of conveying more information, which does not mean it agrees with its views or confirms its description. The article content is for reference only and does not constitute investment advice. Investors operating based on this do so at their own risk.