Gold experienced a sharp drop midday, directly hitting the 4274 level. However, it quickly rebounded and held the bottom at 4295. Long positions can breathe a sigh of relief, as the gold price has now rebounded as planned.

From a technical perspective, the short-term upward momentum is still there. The subsequent movement is likely to follow a pattern of rising sharply and then pulling back—similar to yesterday's Asian session decline and European session rally.

If you want to catch this rebound, consider entering long positions in the 4323 to 4325 range, with the target around 4350. But be sure to manage your positions carefully, avoid greed, and patiently wait for the market to move on its own.