XAU/USD Consolidates Sideways, Awaiting Break Above $2,651
Gold (XAU/USD) is currently trading around $2,634, showing a sideways consolidation after bouncing off the critical support zone at $2,603. On the 4-hour chart, the rising trendline and this support zone continue to act as a foundation for buyers.
The strong resistance at $2,651 is capping further gains, and a breakout above this level could push prices toward $2,660 - $2,675. Conversely, if the price breaks below $2,603, the bearish trend may drive it down to $2,580. Uncertainty around Donald Trump's tariff policies and central bank purchases are supporting gold's upward momentum. Traders should closely monitor upcoming news to gauge the market's next move.
The strong resistance at $2,651 is capping further gains, and a breakout above this level could push prices toward $2,660 - $2,675. Conversely, if the price breaks below $2,603, the bearish trend may drive it down to $2,580. Uncertainty around Donald Trump's tariff policies and central bank purchases are supporting gold's upward momentum. Traders should closely monitor upcoming news to gauge the market's next move.
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