Gold prices in the Asian morning session hovered around 4340, rebounding yesterday, as the return of safe-haven funds eased concerns of a top. However, factors such as margin increases, capital withdrawals, and year-end portfolio adjustments have amplified volatility. In the short term, a strengthening dollar and rising yields continue to pressure gold prices, but internal Fed policy disagreements, economic data performance, and geopolitical risks are supporting bullish sentiment. Key upcoming focuses include the January non-farm payrolls report, inflation data releases, and developments in the Russia-Ukraine situation.

On the technical side, the daily chart shows a doji star, with the middle band of the Bollinger Bands providing support. Resistance at 4405 is evident, and currently, gold is trading within the mid-lower band range. This recent decline appears to be a shakeout, with the overall bullish trend intact, maintaining a volatile consolidation phase. Today marks the closing of the monthly and yearly charts, so trading strategies should remain cautious and prudent.

Specific operations: Long positions can be entered around 4320-4330, with stop-loss set at 4310, targeting 4380-4400; short positions can be entered around 4400-4410, with stop-loss at 4420, targeting 4350-4320.