Peter Smith
⬤ Gold is stabilizing after a sharp intraday decline into the highlighted support zone between $4,440 and $4,444. The metal is currently trading near $4,445 after briefly testing the lower edge of the support band. This area is seen as the key dividing line for the near-term price outlook, with traders closely monitoring whether the level continues to attract buyers.
⬤ A confirmed move below $4,440–$4,444 that holds could see XAU extend lower toward the $4,400 region. The chart shows a prior structural decline from recent highs, followed by a reaction at support, suggesting the market is at an important decision point. Recent candles signal rejection from the lows, reflecting attempts to rebuild upside momentum.
⬤ If Gold remains above the $4,440–$4,444 band, the broader bullish structure is expected to stay intact. The primary resistance region sits between $4,480 and $4,500. Should XAU regain and trade through that zone, a potential move toward the $4,600 area could follow. The chart also marks the recent high as a "weak high," implying that buyers may attempt another challenge higher if bullish momentum returns.
⬤ This XAU setup matters because Gold remains a key barometer of macro sentiment, particularly during periods of economic uncertainty. Price behavior around clearly defined technical levels such as $4,440 support and $4,480–$4,500 resistance can influence broader expectations on risk appetite, currency flows, and safe-haven demand across global markets.
Peter Smith
