Gold Price Forecast: XAU/USD bids its time below $4,200 in a dozy week opening - Mitrade

AI desk brief

Gold is consolidating near $4,171/oz, with upside capped below $4,200 and dip buyers defending the $4,150 area. The metal retains a mildly bullish near-term bias as a softer dollar supports prices, but firmer US yields are limiting the rally after last week’s inflation data and a cooler Fed tone prompted some dollar long liquidation.

Technically, resistance is flagged at $4,200, then $4,230, $4,315 and $4,400 if buyers can break the current range. On the downside, a break below Friday’s low around $4,150 would weaken the short-term setup and expose $4,070, then the $4,000 area.