in_tradingview60d ago
Gold Recovery Holds, but the Market Still Needs to Break Higher XAUUSD is recovering well, though the next buying/entry leg still needs stronger confirmation. Gold continues to rebound from the sub-4,650 area reached earlier, and the latest move shows that buyers are still active as the market tries to rebuild structure. The recovery is also being supported by the broader macro backdrop. Although the US-Iran peace talks failed over the weekend, markets still appear to believe that diplomacy is not completely off the table. That has helped limit aggressive safe-haven demand for the dollar. At the same time, uncertainty around the Fed’s next rate decisions is keeping the US dollar from gaining stronger traction. That matters for gold. When the dollar loses momentum and rate expectations become less certain, the metal usually finds more room to recover. Technical Structure From a technical perspective, gold is trying to extend its rebound inside an improving short-term structure. Price has already recovered from the recent low and is now stabilizing around the 4,770 area. The chart shows a clear framework: 4,650–4,700 is the near-term support zone protecting the current rebound the first major upside target comes in near 4,800 above that, the broader resistance and liquidity zone sits around 5,370–5,412 as long as price remains above the rising recovery structure, the upside bias stays valid This means the market is no longer trading in a weak corrective phase. It is recovering. But the recovery still needs continuation through resistance before the bullish case becomes fully convincing. Key Price Zones Immediate Support: 4,650–4,700 This is the first zone holding the rebound together. If buyers continue defending it, the structure remains constructive. First Upside Test: 4,800 This is the nearest resistance and the first level that needs to be cleared to strengthen the recovery. Major Sell Zone: 5,370–5,412 This is the broader upside liquidity area and the more important resistance ceiling on the chart. Market Scenarios Scenario 1 – Hold support and continue higher This is the constructive path. If gold stays above the current recovery base, price may extend through 4,800 and continue building towards the higher liquidity zone. Scenario 2 – Pull back first, then recover again This is also realistic. The market may retrace slightly after the recent bounce. But as long as price holds above the 4,650–4,700 support area, that pullback would still look corrective rather than bearish. Scenario 3 – Lose support and weaken the recovery If gold drops back below the current support structure, the rebound would lose momentum and the upside case would be delayed. Market Insight Gold is in a better position than it was a few sessions ago, but the market is still not fully free of resistance. The weaker dollar tone and uncertainty around Fed policy are helping the metal recover, yet buyers still need to prove they can turn this rebound into a cleaner upside continuation. For now, the message is clear: gold is recovering well, support is holding, and as long as the current base remains intact, the market still has room to push higher.