Spot gold short-term trading advice: trade within the high-level consolidation range, sell on rallies, and buy on dips.

(1) Analysis: The weakening US Dollar Index combined with geopolitical uncertainties provides support for gold prices, but expectations of a rebound in US Treasury yields and rising rate hike expectations limit the upside. Inflation expectations remain resilient, and the medium-term logic for gold remains unchanged. Technically, gold is in a high-level consolidation range, with obvious resistance above and insufficient short-term momentum, inclining towards range-bound consolidation.(2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation, US CPI(3) Resistance: 4780, 4800, 4850(4) Support: 4700, 4650, 4600;