Spot gold: fluctuating downward, sell on rallies

(1) Analysis: Crude oil prices consolidating at high levels have eased inflation concerns, with the probability of a Federal Reserve rate hike dropping to about 6.6%. Gold prices are fluctuating around the key $4,000 level; however, the probability of a December rate hike remains above 80%, the Fed sentiment index stands at a hawkish 127.51, and the actual interest rate benchmark has not eased. From a technical perspective, there is potential for an oversold correction near previous lows, but the medium-term bearish structure remains unchanged. Awaiting the outcome of the Federal Reserve interest rate decision. (2) Key focus: US Treasury yields, the US dollar index, geopolitical situation, Federal Reserve interest rate decision (3) Resistance levels: 4060, 4080, 4100 (4) Support levels: 4000, 3980, 3950;