Goldโs Bullish Range Holds โ Is This the Dip to Buy?With tensions easing in the Middle East and risk appetite moderating, gold has settled into a bullish daily range. The metal recently broke a key high, confirming its upward momentum, but now appears to be consolidating. The central question is whether gold will break lower for a deeper correction or whether this is merely a pause before the next leg higher.
Reduced geopolitical risk has tempered the โrisk-onโ rally in gold, but the metal remains firmly within a bullish daily range. This indicates that the underlying bid has not disappearedโonly short-term speculative flows have adjusted.
Gold recently breached a protected highโlikely a higher high or significant resistance levelโreinforcing the prevailing bullish momentum. A pullback into imbalance or demand zones is anticipated; however, if a catalyst emerges, price could resume its advance from current levels, with the 0.328 Fibonacci retracement acting as a strong support.
Meanwhile, the DXY is exhibiting signs of a pullback but lacks the fundamental drivers necessary to sustain a broader rally.
