YLG Bullion International Company Limited recommends that investors open short positions in gold if the price rebounds but fails to break through resistance at $4,116 to $4,166 per ounce, with a stop-loss at $4,166. Gold prices are oscillating in a range of $4,028 to $4,100, pressured by the market increasing the probability of a Fed rate hike in September to 67% after a new round of US strikes on Iran and a rise in crude oil prices. Although the Middle East situation is intensifying, the impact on gold this time is negative. If the price breaks below support at $4,044, the next support levels are at $3,997 and $3,960 respectively.