Next week's gold market overview: touching the previous high is just around the corner, but rhythm is the key to victory or defeat

Hello everyone, in recent days gold prices have been hovering around 4509, just a step away from the historical high of 4549. Honestly, at this point, there's no need to worry about whether it will rise or not—what matters is understanding how the market is moving.

Let's break down the driving forces: geopolitical conflicts haven't subsided, safe-haven funds have slightly retreated but haven't completely exited, which is the underlying engine for gold prices; meanwhile, US economic data is softening but hasn't collapsed yet. This "slowing but not stalling" rhythm gives the market opportunities for both longs and shorts.

The market behavior is quite regular—after a surge, there's a small pullback, then a slow rise again. Each correction is quite small, and rebounds are quick. What does this indicate? Funds aren't trying to exit; rather, they are accumulating positions above 4500, preparing for the next surge. But the closer we get to key levels like the previous high, the more the bullish and bearish opinions will clash—this is a pattern.

My judgment for next week is: first test the 4530-4550 level. If it encounters resistance and pulls back, then 4480-4500 will be the next critical support, which is the current battleground between bulls and bears. As long as 4500 holds, breaking through the previous high and testing 4580, 4600 is possible; even if it doesn't break high immediately, the market is likely to digest the move through oscillation rather than reversing into a downtrend.