Considering recent developments and the current price structure, my opinion is clear: XAUUSD is still in an uptrend and any correction at this point is merely a technical pullback, not a trend reversal.

From a fundamental perspective, the market has digested the news of a ceasefire between the United States and Iran, leading to a weaker dollar and lower bond yields – two major factors that directly support gold prices. Importantly, geopolitical risks have not completely disappeared, keeping demand for safe-haven assets high. Additionally, expectations that the Federal Reserve may take a less hawkish stance on interest rates continue to drive flows into gold. This move is not just a short-term news-driven rally, but also reflects the return of defensive inflows into the market.

Looking at the chart, the upward trend is clearly visible. Price remains above the uptrend line and continues to form higher lows while holding firmly in demand territory following the liquidity clearing process. The reaction in this area was more than just a technical bounce – it was a clear indication that buyers still have complete control over the market. Currently, the price is in a consolidation phase, forming a pressure structure that usually occurs before a trend continues. As long as the structure remains intact, such periods of consolidation usually pave the way for fresh gains, potentially towards the 4,950-5,000 area.

In short, the current strategy is not to look for selling opportunities, but to wait patiently for a pullback. Gold remains a favored asset as fundamentals and technicals align – and in the short term, this advantage clearly favors buyers.

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