XAUUSD: Gold Is Not Fully Weak Yet — But Buyers Must Hold 4,500GoldOANDA:XAUUSDDomicChainaXAUUSD on the H4 timeframe is currently sitting at a very important stage. After the sharp liquidity sweep into the 4,360–4,380 zone, gold rebounded aggressively toward 4,590. To me, this was not just a random bounce — it suggested that selling pressure below had been absorbed quite effectively. However, the main issue is that price still failed to reclaim the larger EMA around 4,550 decisively. After touching the 4,580–4,590 area, gold immediately faced profit-taking pressure and has now slipped back toward 4,528. This tells me that buyers have returned, but they still lack enough strength to fully regain control of the H4 trend. The broader market backdrop is also creating a mixed environment. A stronger USD and rising oil prices continue pressuring gold because they increase inflation risks and reduce the probability of an early Fed pivot. On the other hand, ongoing Middle East tensions and expectations of slowing US growth still maintain some safe-haven demand for gold. My preferred scenario is that gold may pull back toward the 4,515–4,500 area, where the short-term EMA and nearby support are converging. If this zone holds firmly, XAUUSD could rebound again toward 4,550 first, followed by the 4,575–4,590 resistance area. This becomes the key decision zone for determining whether the current move is only a pullback or the beginning of a clearer short-term bottom formation.