$SPDR Gold Shares(GLD.US)

Long-term bullish on the medium-to-long-term trend of gold, but personally feel that the current wave of adjustment may still need to be observed and digested on a monthly cycle.

The pullback over the past two days has indeed been significant, with a rapid retreat from historical highs, and the magnitude clearly exceeding recent averages. However, in terms of nature, it seems more like the typical profit-taking + healthy correction seen earlier. If there are no clear signals of systemic risk, it feels like it will repeat the sideways consolidation phase of the past few months.

Short-term sentiment remains slightly bearish. Fortunately, I exited with profits in time yesterday, though I still took a small hit from the pullback.

Intraday market volatility has been particularly intense these days, with rapid shifts in sentiment. My risk appetite isn’t high, so I’ve chosen to stay in cash and wait, avoiding this highly uncertain market. I’ll reconsider once volatility subsides and the direction becomes clearer.