Gold: Range Bound Bearish Consolidation GoldOANDA:XAUUSDcusxgqGold is trading within a range-bound consolidation tilted to the downside. Upbeat U.S. economic data has scaled back market rate-cut expectations, keeping the U.S. Dollar and Treasury yields elevated. Higher funding costs cap gold’s upside and serve as the primary near-term bearish driver. Still, lingering geopolitical risks in the Middle East plus persistent official gold purchases by global central banks underpin buying interest on dips, preventing sustained sharp declines; bargain-hunting bids tend to step in to lift prices following deep pullbacks. From a short-term technical perspective, immediate support sits between 4450 and 4430, marking a critical near-term bull-bear divide. A decisive break below this zone would open further downside toward 4420 and the key psychological level at 4400. Nearby resistance ranges from 4460 to 4470, where rebound rallies are prone to stalling and reversing lower. Trading Strategy Initiate short sell orders on bounces between 4460 and 4480 Place stop-loss above 4490 Profit targets: 4430 → 4420 → 4400