Gold (XAU/USD) is buying and selling at $2,633.03, down 0.03% because it consolidates close to its pivot level of $2,631.59. The 4-hour chart reveals gold positions above the 50-day EMA at $2,624.82, indicating near-term assist, whereas the 200-day EMA at $2,639.07 signifies a broader consolidation section.
Speedy resistance is at $2,651.62, with additional upside potential in the direction of $2,676.43 if bullish momentum continues. On the draw back, assist is noticed at $2,608.24, with a break beneath this degree exposing $2,584.66.
The technical outlook for gold stays cautiously optimistic so long as the worth stays above $2,630. Nonetheless, a break beneath this pivot level may shift momentum, resulting in bearish strikes. Merchants ought to keep watch over resistance at $2,651 for indicators of additional good points and $2,608 assist for potential pullbacks.