Recent Price Action After a sharp drop to $2582 following data release, gold has successfully recovered above $2600. If $2600 holds as support, gold may rebound toward $2630–$2660 in the short term. Short-Term Outlook With the bearish momentum largely priced in, further downside potential seems limited. A focus on buying after signs of a bottoming out is preferred, rather than chasing the downward move. Buy Opportunity (2590–2630) Consider buying near the lower end of the 2590–2630 range, with a 10-dollar stop loss and a target at the upper end of the range. Strategy At this stage, the strategy is to look for a reversal signal and buy on dips, rather than pursuing further short positions.