Gold reversed lower after approaching resistance, with technicals showing increasing selling pressure. However, central bank accumulation continues while ETF inflows have slowed, creating a consolidation environment.
A Fed shift toward bill purchases and a gradual global pivot away from Treasuries could provide medium-term upside.
Key Levels: Support at $4,039.9 | Resistance at $4,344.1
Investor Takeaway: Near-term consolidation, but structural tailwinds remain intact
