Next week, the market may enter a consolidation and base-building phase, which means the medium-term uptrend has not yet completely reversed.

Spot gold is expected to trade within a core range of $4,850 to $5,060 next week.

Early next week, gold prices may continue to consolidate weakly, with a focus on testing the $5,000 support level.

If this support level holds, gold prices are expected to gradually rebound and test the resistance zone between $5,050 to $5,100.

Conversely, if gold prices break below $5,000 during the trading session, they may further decline to the $4,850 support line.

Overall, the current short-term pullback appears to be profit-taking from higher levels; consolidation and technical adjustment remain the main trend, with no signs currently indicating a complete trend reversal.

In the current market environment, the key support level to monitor is $5,000; if gold prices break below this level, further declines toward the $4,850 region are possible.

In short, for short-term gold trading on Monday, the recommended strategy is to prioritize shorting on rallies while buying on pullbacks.

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