Gold rebounds above $4,130 as Oil retreats, Fed decision looms - Mitrade

AI desk brief

Gold rebounded to $4,133/oz, up 0.25%, after holding above the $4,106 low as oil eased and the dollar softened slightly. The metal remains range-bound between $4,100 and $4,200 for a 16th straight session, with steady 10-year yields at 5.111% and Fed uncertainty around next week’s meeting and core PCE keeping traders cautious.

Near term, the article leans tactical-bullish but not decisive: geopolitical tensions, lower oil, and softer USD support bullion, while improved risk sentiment and a bearish RSI cap upside. Key levels cited are support at $4,100/$4,073 and resistance at $4,200, then the 100-day SMA at $4,235.