Gold pulled back sharply from the $5,595 all-time high and is now trading near $5,224 — right back into the key support zone that previously capped a major consolidation range. Classic market structure: resistance turning into support.
Geopolitical tension remains elevated, keeping the safe-haven demand alive. At the same time, central banks — led by China — continue accumulating gold for the 15th straight month.
Momentum indicators are cooling. RSI is coming down from overbought levels and MACD is losing steam, but the broader uptrend still holds. This looks more like a healthy reset than a reversal.
A clean break above $5,225 could open the door toward $5,400.
However, a drop below $4,915 would quickly shift the outlook.
Pullback or launchpad?
Structure suggests the latter.
$BTC
$BNB
$XAU
#GOLD #GoldMarket #Trading #Commodities #MarketStructure
Geopolitical tension remains elevated, keeping the safe-haven demand alive. At the same time, central banks — led by China — continue accumulating gold for the 15th straight month.
Momentum indicators are cooling. RSI is coming down from overbought levels and MACD is losing steam, but the broader uptrend still holds. This looks more like a healthy reset than a reversal.
A clean break above $5,225 could open the door toward $5,400.
However, a drop below $4,915 would quickly shift the outlook.
Pullback or launchpad?
Structure suggests the latter.
$BTC
$BNB
$XAU
#GOLD #GoldMarket #Trading #Commodities #MarketStructure