Spot gold: fluctuating upward, buy on dips

(1) Analysis Reasoning: Gold remains above $4,600, with the overall bullish structure intact. The US July PCE year-on-year is 3.7%, which has heightened rate hike expectations and supported the US dollar. However, a pullback in US Treasury yields and safe-haven allocations continue to provide support. Continue to pay attention to policy signals from Jackson Hole, and gold prices are expected to maintain a volatile upward trend.(2) Key Focus: US Treasury yields, US Dollar Index, geopolitical situation, Jackson Hole meeting(3) Resistance: 4,680, 4,730, 4,770(4) Support: 4,600, 4,560, 4,520;