$XAU
XAU Today: The $5,000 Standoff on a Quiet Holiday Market! ✨🛡️
Gold is starting the week in a consolidation phase, hovering around the psychological $5,000 mark. With US markets closed for Presidents' Day, we might see lower liquidity and a quieter session today. The immediate battle is between bulls defending the $4,975 - $5,000 support zone and bears capping gains near $5,050 - $5,110.
While the long-term uptrend remains intact, supported by revived Fed rate cut hopes following softer inflation data and ongoing geopolitical risks, the short-term picture is neutral. The market is catching its breath after recent volatility. A decisive breakout above $5,110 could reignite the rally, while a drop below $4,900 might trigger a deeper correction.
Are we building energy for the next big move? Keep a close watch on these key levels as the week unfolds! What's your strategy? Let us know below! 👇
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