Gold Bounces Above Key Support Around $4,950

Commodity

Economic

Summary:

AU/USD is consolidating near the $4,950–$5,000 range after a recent correction from higher levels, with prices stabilizing above key support. Gold remains underpinned by safe-haven demand, ETF inflows...

BUY XAUUSD

Close Time

CLOSED

4989.91

Entry Price

5140.00

4900.00

4942.63 -52.60 -1.05%

899.1

Pips

Loss

4900.00

4899.99

Exit Price

4989.91

Entry Price

5140.00

Market Overview

Gold has been trading in a range around $4,950–$5,100 this week after a pullback from earlier highs above $5,300. Despite some short-term bearish pressure due to strong U.S. labour data and a firmer dollar, the metal remains above the critical psychological $5,000 level and key dynamic support (such as the 50-day moving average). Analysts observe that the overall long-term uptrend remains intact, even though price action has shifted into a redistribution or consolidation phase after a strong rally earlier in February. Bullish fundamentals central bank demand, safe-haven positioning, and geopolitical uncertainties continue to underwrite gold prices.

Market Sentiment

Sentiment for gold is currently neutral to cautiously bullish on dips. Recent analysis suggests that gold’s broader bullish structure is still supported by higher lows and ongoing safe-haven flows, even as price stabilizes around support. Some reports recommend gold as a “buy on dips” strategy, highlighting potential upside toward targets above $5,200 if underlying support holds. Macro catalysts like inflation expectations, central bank strategy and geopolitical news are key to sustaining bullish sentiment.

Technical Analysis

Gold Bounces Above Key Support Around $4,950_1

On the M15 timeframe, XAU/USD is hovering near $4,990 and has spent recent sessions consolidating around the $5,000 pivot. Technical indicators suggest a neutral to slightly bullish bias that supports the idea of buying on pullbacks as long as gold remains above key support near $4,950. Analysts note that if prices maintain above this support zone, the probability of a rebound toward resistance levels near $5,107–$5,150 increases. Momentum remains muted but underlying trend structure is still supportive above these support levels.

Trade Recommendation

Entry: 4990

Take Profit: 5140

Stop Loss: 4900

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