Gold opened at 4591, quickly dipped to 4589 before starting to rebound. It is now hovering around 4625, with an intraday gain of nearly 40 points. The bulls are still strong, continuing the momentum from yesterday's rebound at 4570, showing a overall ladder-like upward pattern.

**Market Outlook**

Tonight, the US will release the initial jobless claims data for the week ending January 10, with market expectations at 215,000. This data is very important—if it shows weakness, the market will speculate on the Federal Reserve cutting interest rates early, pushing gold higher; conversely, if the data is strong, short-term profit-taking may occur.

Additionally, recent geopolitical tensions have been fluctuating, and global central banks are still actively buying gold, providing support for safe-haven demand. The weakening US dollar index is also helping to push gold prices higher.

**Technical Analysis**

The price is currently trading near the upper band of the Bollinger Bands, with the middle band at 4630 acting as short-term support, and the upper band at 4645 as resistance. All moving averages across different timeframes are above the price, with a clear bullish alignment, indicating strong support.

Below, it is important to hold the 4600 integer level and yesterday’s high at 4602. Resistance is concentrated at previous highs of 4654 and today’s high of 4642.

**Trading Strategy**

**Bullish Outlook**: Gold is in a strong upward cycle; pullbacks are opportunities to enter. Consider entering around 4600-4615, targeting the 4630-4650 zone, with a stop-loss below 4590.

**Bearish Outlook**: If the price faces resistance at 4645-4650, try a small short position. Entry zone remains 4645-4650, with targets at 4630-4610, and a stop above 4660. After reaching previous highs, technical pullbacks are likely. Short-term traders can trade quickly in and out, but must control position sizes.