The Federal Reserve is set to speak intensively again next week, and Powell's successor has not yet officially taken office. The rate cut might have to wait a bit longer. CPI data is coming soon, which could give the dollar bulls another boost. The geopolitical situation is becoming increasingly tense, and the commodity index needs to be rebalanced. Is gold and silver an opportunity or a trap right now? It’s worth pondering.

From this week's performance, gold has shown strong resilience — it opened aggressively, retraced about a hundred points, and by Friday, it managed to push back up, once again staying above 4500. This trend looks like a bullish market to me. There have been quite a few positive news lately, and each time gold dips, it hasn't broken key support levels. This resilience is promising.

For next week, my personal approach is as follows: I will gradually build long positions at 4480 and 4460. If there's a gap up at the open, don’t rush to chase the high; short-term trading is possible. The medium-term targets are 4550 and 4600. As long as the fundamentals remain stable, there’s still room for a rebound. Patience and sensitivity to key data are equally important in this market — next week’s Fed speeches and CPI data will shake the market, so risk management is more crucial than anything else.