Gold prices have stabilized after three consecutive days of gains, with traders now shifting their focus from escalating geopolitical tensions to the upcoming US economic data releases this week.

Currently, gold is hovering around $4,490 per ounce, with a cumulative increase of over 4% in the past three trading days. Several recent events have raised market alertness—on Tuesday, the White House hinted that President Trump does not rule out the use of force. Meanwhile, some regions have intensified controls on exports, imposing stricter restrictions on goods related to military use, and tensions between the two major Asian economies have noticeably escalated.

From a trading perspective, these uncertainties have supported gold prices in the short term, but whether they can continue to rise depends on the US economic data. Everyone is waiting for this week's data to see if it will alter the Federal Reserve's policy expectations. If the economic data exceeds expectations, the dollar may rebound, which would, in turn, put downward pressure on gold prices. So, market sentiment has been quite delicate these days—balancing the need to guard against geopolitical risks while also being wary of potential economic data black swans.