GOLD B

The gold price is showing early signals of a potential bounce after retesting the $4,670 support zone. The intraday price action remains in the range bordered by $4,650 and $4,770. So far, every dip has been bought, and the structure remains firmly in consolidation but tilted bullish.

Key Indicators

• 20- & 50-SMA now act as dynamic support.

• No clear rejection from higher-ups.

• The upward correction structure is still supportive.

Fundamental Context

Fundamentally, the sustainability of any gains in gold for the rest of the week will largely depend on the US dollar’s performance, the upcoming US retail sales report, and comments from Federal Reserve policymakers. Additionally, US bond yields and broader market risk sentiment will influence USD price dynamics, thereby impacting gold prices.