#GOLD_UPDATE *Gold Holds Near $4,703 as Buyers Defend $4,675 Support Zone*
Gold Spot/XAUUSD is trading at $4,703.74 on the 5-minute chart as of 06:27 UTC, consolidating after bouncing off the $4,670-$4,675 demand area.
Price found strong buying interest in the light blue zone around $4,675, marking the second successful defense of this level in two sessions. The bounce has pushed gold back above $4,700, with momentum now testing the lower edge of the purple supply zone between $4,715 and $4,725.
*Key Levels to Watch*
- *Resistance*: $4,715-$4,725 is the immediate supply zone. A break above opens the path toward $4,726.97, the recent swing high, and then $4,750. The larger supply block sits at $4,760-$4,770.
- *Support*: $4,700-$4,703 is acting as near-term support. Below that, $4,670-$4,675 remains the key demand zone. A close under $4,670 would shift focus to $4,650.
*Outlook*
Gold remains locked in a range between $4,680 and $4,715. Buyers have defended the $4,675 level twice, keeping the short-term structure constructive. If bulls can break and hold above $4,725, the next leg up targets $4,750 and potentially $4,770.
The bias stays neutral-to-bullish while price holds above $4,700. A drop back below $4,680 would put pressure back on the $4,675 support and increase the risk of a move toward $4,650.