Gold Price Under Pressure: Trading StrategyGoldOANDA:XAUUSDcusxgqGeopolitical tensions in the Middle East have boosted safe-haven demand, and continuous gold purchases by global central banks have underpinned gold prices. However, remarks from the Federal Reserve and rising U.S. Treasury yields keep capping upside potential. Market participants remain largely on the sidelines, with no notable changes in holdings of gold ETFs and speculative positions. The price is trading sideways mainly between $4500 and $4600. The zone of $4580 to $4600 acts as a strong resistance level, where rallies tend to stall. $4550 serves as a key short-term support, which has withstood multiple tests without a valid breakdown. Further down, $4500 is the critical defensive level for bulls. International gold is currently consolidating at high levels, with bullish and bearish forces evenly matched. Range-bound trading is recommended for the short term. Consider opening short positions when the price approaches the resistance zone of $4580-$4600, and avoid chasing rallies at highs. Light long positions can be established on dips near the $4500 support level. Trading Plan Go short on rebounds to $4580–$4600 Stop loss: $4610 Take profit: $4550–$4530