Yesterday, the Asian market opened with gold at 4715 and steadily climbed to a new intraday high of 4888. However, it couldn't hold and plunged to 4755, then stabilized around 4820. This pattern of sharp rises followed by pullbacks and repeated oscillations is familiar to everyone.

Currently, the market is focused on the US December core PCE price index and initial jobless claims data to be released today. Most analysts believe that the PCE will continue to ease modestly. If so, it could further reinforce market expectations of a possible rate cut by the Federal Reserve in March, which would be a positive for gold.

From a technical perspective, although gold experienced a significant correction, the key support level at 4750 has never been effectively broken. The current price around 4820 remains relatively stable, with bullish momentum building up. The short-term moving averages are flat, and the KDJ indicator is at a low level, indicating that the rebound and correction demand are still present.

Strategically, consider entering long positions on dips around 4800-4805. Short-term targets are 4850 and 4888, with the medium term even potentially pushing towards 5000. The key is to remain patient and not be disturbed by short-term volatility, as market opportunities always favor those who can stay calm.