Spot gold short-term trading advice: high-level consolidation, sell on rallies, buy on dips

（1）Analysis: The strengthening of the US dollar and the market's reduced expectations for interest rate cuts have put short-term pressure on gold prices, but the escalation of conflicts in the Middle East continues to boost safe-haven demand, providing significant support for gold. The rise in oil and gas prices has reignited inflation concerns, making the market more cautious about the path of rate cuts. From a technical perspective, gold prices are maintaining a strong consolidation structure above $5,000, with the moving average system still in a bullish arrangement. The recent pullback is more about digesting gains at high levels. If risk aversion sentiment rises again, gold prices may still have the potential to retest historical highs. (2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation, non-farm payroll data (3) Resistance: 5,200, 5,250, 5,300 (4) Support: 5,100, 5,050, 5,000;