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Yesterday, gold plummeted by 300 points, and today it is short around 5196.
After rebounding to 5379 yesterday, gold continued to decline, breaking below the $5000 level to a low of 4995. The downward momentum was fierce, affected by a strengthening dollar, bleak prospects for rate cuts, and the digestion of risk aversion sentiment. Technical pullback caused gold prices to drop over 300 points. The future trend may be more bearish with a rebound bias. In the short term, consider shorting around the 5190-5200 range, with a stop loss at 5211. Watch the support levels at 5060/4950, and be mindful of risks.
Short around 5196, stop loss at 5211, take profit at 5100 and 5060.
The above suggestions are for reference only; actual trading should be based on real-time operations.