Analysts: Seasonal positive factors are nearing their end; gold faces volatility and a choice of direction.

PANews reported on February 8th that, according to Jinshi, Investinglive analyst Adam Button stated that gold's failure to hold the $5,000 mark this week was undoubtedly disappointing, but compared to silver's performance, gold remained relatively stable. However, the significant volatility cannot be ignored as it does cause unease. The most favorable scenario for gold in the coming week is likely to be reduced volatility, even if this might mean a slight price decline. Unfortunately, gold's volatility may not subside quickly; it tends to subside slowly over a period of time.

In the coming days, the market will focus on the potential catalysts from the situations in Iran and Ukraine, with Wednesday bringing the latest non-farm payroll report. For bulls, a pullback in the dollar index could provide some encouragement and potentially act as an upward catalyst. It's worth noting that gold has remained resilient despite a series of margin calls, reflecting genuine intrinsic buying support in the market. Ultimately, if gold prices can consolidate in the $4500-$5000 range for several weeks (or months), it would be a positive sign. The downside is that gold's traditional seasonal upward trend is nearing its end.