Gold maintains a cautiously bearish near-term bias following a sharp liquidation phase, yet price action remains supported above key technical levels. Profit-taking accelerated after gold briefly breached the $4.5K–$4.6K zone, while futures positioning indicates heavy de-risking.
Despite this, central bank accumulation continues, and the Fed’s shift toward bill purchases—alongside a gradual global rotation away from US Treasuries—creates a constructive medium-term backdrop.
Key Levels: Support 4,275.09 | Resistance 4,580.17
Investor Takeaway: RSI at 55 with strengthening MACD buying pressure suggests consolidation may resolve higher once positioning resets.
