On Thursday (December 11, Beijing time) in early Asian trading, spot gold was trading around $4226 per ounce. The Fed's final interest rate decision of 2025 was finalized, announcing a 25 basis point rate cut as expected. Following the announcement, the US dollar index and the 10-year US Treasury yield fell. Against the backdrop of a weakening dollar and Treasury yields, spot gold quickly recovered its early losses, rising approximately 0.5% for the day.

In the short term, the Fed's "pause in dovishness" signal has significantly cooled market expectations for a rate cut in January next year. The dollar's decline may slow temporarily, and the upward momentum of precious metals may weaken. The risk of a pullback from high levels should be noted. Investors need to pay attention to further market interpretations of the Fed's decision and monitor changes in market expectations regarding the Fed's monetary policy.

Gold exhibited a pattern of "breakout and consolidation followed by upward movement" yesterday, currently trading at $4228.47 per ounce, a daily increase of 0.42%, breaking through the previous key resistance level of $4220. Technically, the daily chart shows a breakout bullish candle, the 4-hour Bollinger Bands are widening upwards, the moving average system is in a bullish alignment, the MACD golden cross continues to expand, and the KDJ indicator remains in a strong range, confirming the formation of a short-term upward trend.

On the support side, $4210 has become immediate support, corresponding to a pullback confirmation level after the breakout; $4185, as the previous upper edge of the consolidation range, forms a strong support level, and a break below this level would test the $4170 area. On the resistance side, the focus is on the previous high of $4247.9. A break above this level could open up short-term upside potential towards $4300, with a medium-term target of $4580. Overall, today's short-term trading strategy for gold is to primarily buy on dips, with selling on rallies as a secondary approach. Key resistance levels to watch are $4250-$4270, while key support levels are $4205-$4185.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.