Morning Analysis:

Yesterday’s Asian session saw gold trade with a slightly bullish bias. After stabilizing from around 4737, it gradually rose, with the current price moving near 4820. The Bollinger Bands on the chart continue to tighten; price repeatedly oscillates around the middle band, with tug-of-war between bulls and bears becoming increasingly locked, as the market awaits tonight’s directional guidance.
Uncertainty in the Middle East continues to provide safe-haven support for gold. Combined with a slight pullback in the US dollar, this gives gold some upward momentum. However, the market remains cautious about Federal Reserve policy, which to a certain extent limits the room for gold to rebound.
At present, Bollinger Band resistance is at 4833 (upper band), the middle band is at 4825, and support is at 4799 (lower band). Gold is trading close to the upper pressure level, but it has not achieved an effective breakout; the short-term pressure pattern is clear. When the Bollinger Bands tighten, it often signals that a one-way market is about to start. Focus tonight on the direction of the Bollinger Bands opening.
A pullback to around 4810–4790 can be used to place a long order on gold.
Targets are around 4840–4890. $XAUUSD