Gold (XAU/USD) is currently trading around $2,634, showing a sideways consolidation after bouncing off the critical support zone at $2,603. On the 4-hour chart, the rising trendline and this support zone continue to act as a foundation for buyers.
The strong resistance at $2,651 is capping further gains, and a breakout above this level could push prices toward $2,660 - $2,675. Conversely, if the price breaks below $2,603, the bearish trend may drive it down to $2,580. Uncertainty around Donald Trump's tariff policies and central bank purchases are supporting gold's upward momentum. Traders should closely monitor upcoming news to gauge the market's next move.
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