Gold Tests $4,500 as Market Holds Near All-Time High

Gold (XAU) is taking a breather after a sharp rally, trading just beneath the $4,500 mark while respecting rising trend support. The precious metal is holding near recent record territory as traders watch to see if the consolidation phase continues or if buyers can push through to new highs.

⬤ Gold continues trading just below the major $4,500 psychological barrier, holding near recent record territory while consolidating in a broad short-term range. The market is likely seeing continued wide-range consolidation between $4,440 and $4,498, with Friday's session opening normally. The focus is whether XAUUSD can sustain traction near the upper boundary of this trading band as the metal pauses following a strong prior rally.

⬤ The $4,500 level represents immediate resistance, while a renewed test of the all-time high at $4,526 is possible if buying pressure resumes. A sustained move above this zone could potentially open the pathway toward the next upside region near $4,600. Meanwhile, the Average Directional Index on XAU is rising and remains above the key 30 threshold, indicating a robust prevailing trend even as some short-term momentum has eased. This reflects a market that's structurally strong but consolidating near a major round-number resistance area.

⬤ On the downside, Gold support sits in the $4,445 to $4,448 range, with further backing closer to $4,430, which also aligns with the rising trendline support shown in the chart. Short-term trading is expected to stay within a $4,440 to $4,498 band, reinforcing the view that XAU may hold within consolidation while maintaining a buy-focused stance for short-term trades. These clearly defined levels continue to guide near-term trading plans.

⬤ This setup matters because Gold is trading near a major psychological barrier while trend strength indicators like ADX suggest the broader uptrend in XAU remains intact. How the market behaves around the $4,500 area could influence short-term sentiment, volatility, and positioning as traders weigh the potential for further gains toward record territory against the risk of a deeper pullback toward nearby support levels.