Gold continues to trade within a fairly wide sideways range, with prices hovering around resistance at 4,258 and support at 4,170. The 20-50 EMA runs almost parallel, which indicates a lack of clear directional force in the market. This follows a period of stress following dramatic volatility late last month.

The influence of macro factors
U.S. bond yields fell slightly, helping gold prices maintain a sound footing.
The market is awaiting inflation data and a Fed statement, causing more cash flows to be delayed ← Reason for gold’s long-term sideways movement.
The expectation that the Federal Reserve will ease monetary policy in the first half of 2026 remains a factor supporting the upward trend in the medium term, although gold has no momentum to break out in the short term.

The sideways rhythm is likely to continue until liquidity falls below margin flows to consolidate positions.
If the price holds 4,170 and rebounds off the bottom of the range, the next target is 4,258 – resistance at the border of the range.

The longer the sideways trend, the stronger the breakout – do you think gold will breakout or fall first?

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