Analysts: Spot gold continued its rebound from the previous day and is expected to remain in a sideways trading range for the next few weeks.

International spot gold prices continued to rise on Wednesday, extending the previous day's rebound, after experiencing one of the most intense sell-offs in decades. Broader geopolitical uncertainty prompted a return of funds to this safe-haven asset. After hitting a record high of $5,594.28, gold fell more than 13% on Friday and Monday, marking its worst two-day drop in decades. Despite this, gold prices are still up more than 17% year-to-date. Analyst Edward Meir said, "When the market experiences such sharp volatility, it is usually followed by a rebound." He added, "Gold prices may have entered a consolidation phase, and are more likely to trade sideways in the coming weeks rather than continue to experience sharp fluctuations." ADP data showed that only 22,000 jobs were added that month, far below the market's previous expectation of 48,000. (Jinshi)