Gold Price Forecast: XAU/USD bulls remain capped below $4,600

💡 DMK Insight

Gold’s recent bounce from last week’s lows near $4,100 is noteworthy, but the $4,600 resistance is a critical hurdle. Traders should be cautious as the metal’s moderate bullish tone could quickly shift if it fails to break through this level. The $4,600 mark has historically acted as a strong barrier, and a rejection here could trigger profit-taking or short positions, leading to a potential pullback towards the $4,100 support. Keep an eye on broader market sentiment, especially if economic indicators suggest a stronger dollar, which typically pressures gold prices. Additionally, watch for any geopolitical tensions that could drive safe-haven demand for gold, potentially influencing its trajectory. For those looking to trade, consider setting alerts around the $4,600 resistance and the $4,100 support. A decisive break above $4,600 could open the door for a more aggressive bullish stance, while a failure to hold above $4,100 might signal a bearish reversal.