The current technical outlook for gold is at the boundary between bullish and bearish, with all variables pressing tonight.

First, let's look at the US side. The inflation and retail sales data will be released at 21:30. These two data points will directly impact the Federal Reserve's policy judgment, and volatility during the US trading session will definitely increase. If the data is weaker than expected, gold may have the chance to push higher, testing the important resistance at 4350 to 4380.

On the other hand, we also need to watch the Bank of Japan, which is scheduled to announce its interest rate decision on December 19. The market is generally betting they will raise rates. If they do, combined with exchange rate factors, precious metals may face short-term pressure. If gold fails to break through the high tonight, a correction and reversal are very likely tomorrow.

From the chart perspective, gold has been stuck in the 4350 to 4380 range for several days. This is a critical moment for choosing a direction. The key support at 4260 is important; currently, it remains above 4320, indicating that the bulls haven't loosened. On the hourly chart, the price has been oscillating upward after rebounding from 4271.52, and the overall trend remains intact. Short-term pullbacks are normal adjustments.

In terms of operation, look for opportunities around 4332 to 4322, with targets sequentially at 4340, 4350. After breaking through, continue to watch 4355, 4365, and 4380. Remember to manage risks well, as this strategy has time sensitivity. If you're unsure, stop and wait.