On August 17, spot gold extended its rebound during Monday's Asian session, trading near the $4,400 per ounce mark. After a period of noticeable alternating gains and corrections following the release of inflation data, the latest U.S. retail sales figures have further reinforced expectations of a slowdown in economic growth momentum and a potential shift in Federal Reserve policy. A weaker U.S. dollar has provided additional support for gold, which is priced in the greenback. Currently, market bets on a Fed rate hike in September have significantly declined compared to previous levels, with surveys indicating a probability of around 30%. This suggests that the mainstream market view is gradually shifting from "continued tightening" to "a pause in rate hikes."

From a daily chart perspective, gold has reclaimed its position above the 100-day moving average and remains above the midpoint of the 20-day Bollinger Band, indicating a still-bullish structural trend. The Relative Strength Index (RSI) is hovering near 64, already entering the strong zone. On the 4-hour chart, the short-term trend remains in a rebound structure, with short-term momentum leaning bullish. The MACD line is about to cross above the signal line, suggesting a lack of momentum for further declines.

Overall, the recommended trading strategy for tonight is to buy on dips. Gold trading strategy: Long position: Enter between $4,387 and $4,385, set a stop-loss at $4,365, and target around $4,450. This content is for informational purposes only and does not constitute investment advice. Investors should act at their own risk.