Gold Market Update – XAU/USD

Gold is currently trading near 5127–5142 after a strong bearish move from the 5300 supply zone. The market structure shifted bearish following a Break of Structure (BOS) and Change of Character (ChoCH), confirming increased selling pressure.

On the 1H timeframe, the market formed a Double Top pattern with the neckline around 5119, which triggered the recent downside move toward 5050 liquidity.

On the 4H chart, price rejected the 5265–5305 premium supply zone, indicating institutional selling activity. The current move appears to be a retracement into Fair Value Gap zones between 5140–5170, which could act as a sell-on-rally area.

📍 Key Levels

Support

• 5119

• 5090

• 5060

• 5030

Resistance

• 5148

• 5172

• 5200

• 5240

📉 Bearish Scenario

Failure near 5140–5170 resistance may trigger another move toward 5090–5060.

📈 Bullish Scenario

A reclaim above 5172–5200 could shift momentum toward 5240.

📌 Conclusion

Gold remains bearish in the short term unless 5172–5200 is reclaimed, with current price action suggesting consolidation before the next move.

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