Gold (XAU/USD) rises slow and steady – In-depth Gold technical analysis

After yesterday's sharp rally in alternative precious metals, with Copper, Platinum, and Silver all surging as Chinese inflation reached a 45-month high, the strong upward momentum has now eased.

However, Precious Commodities traders were caught off guard by this morning's higher-than-expected US inflation report.

As the US Dollar surged in response to the hawkish CPI data, traditional risk assets and alternative metals pulled back.

Still, the metals complex is holding strong relative to the tech-heavy Nasdaq and the broader cryptocurrency market, which are seeing much sharper declines today.

Broad financial markets are now essentially frozen in a state of suspended animation following the CPI release – Participants eyes are firmly turning toward the monumental Trump-Xi diplomatic summit scheduled over the next three days.

This high-stakes meeting between the world's two largest economic superpowers is virtually guaranteed to rock global investor appetite and set the directional tone for the remainder of the quarter – And metals won't be isolated from such dynamics.

Despite the current economic and geopolitical uncertainty, Gold has stayed relatively quiet: The metal is consolidating within its wide $4,500 to $4,900 range.

By holding steady and absorbing market volatility, Gold is building a solid technical foundation for a possible longer-term rally.

Importantly, Gold has stayed resilient even with recent hawkish data and the fast-paced rise in Crude oil prices; Ongoing relative strength which suggests that the fundamental outlook for this safe-haven asset may be changing in the near future.

Traders should expect massive, headline-driven volatility in the very near term all across Markets and the Yellow Metals – The ultimate question is which direction this historic consolidation will finally break.

Let's dive right into a multi-timeframe analysis of Gold (XAU/USD) to look where the action could head for the rest of the week, if not weeks.

Read More:

• Silver (XAG/USD) is in breakout mode, pushing above $85 – In-depth Silver technical analysis
• The US Dollar rallies back after CPI, is the correction is over ? – EUR/USD, GBP/USD & Dollar Index (DXY) overview
• Chart alert: WTI crude is poised for a potential volatility bullish breakout above $102.54/bbl

Gold has been forming the basis for a decent support between $4,500 and $4,900, helping the previously bearish momentum to turn neutral.

Having failed to push for further downside, bulls are slowly regaining the advantage with the Weekly RSI slowly turning bullish since the beginning of the month.

This week's candle, still forming, is for now looking like a Bullish Hammer.

After a bearish reaction to the morning US Inflation numbers, some mean reversion buying is pushing back above the previous candle, forming an bullish engulfing pattern.

Buyers will want to pursue this bullish momentum to push above the $4,780 weekly highs.

Levels to watch for Gold (XAU/USD) trading:

Resistance Levels:

• Intraday highs $4,780
• $4,850 to $4,900 Key Resistance (Range highs)
• $5,100 Pivotal Resistance
• Gold ATH record $5,602

Support Levels:

• Daily Momentum Pivot $4,650 - $4,700
• December 2025 Support $4,500 to $4,550 (Range lows)
• Major Support $4,350 to $4,400
• War lows $4,101

The Yellow Metal is extending higher towards the end of the session, back above the $4,700 level and the 50-Hour MA.

Bulls will need to expand their strength above the intraday level to extend further – Below $4,650, the 200-Hour MA, the action may get more bearish towards the bottom of the range.

Safe Trades!

Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier