7.6 EarlyMorning Gold

Last week, $XAU launched a counterattack from the 4106 area. Bulls gained strong momentum, surging all the way to the intraday high of 4195. Throughout the day, price followed a rhythm of “first rally, then grinding,” and the long–short game quickly escalated into a white-hot phase.

Geopolitical risk aversion continues to provide support for gold prices. However, differences in the market regarding the Federal Reserve’s subsequent monetary policy path are widening continuously. The U.S. Dollar Index and U.S. Treasury yields have been fluctuating repeatedly, persistently disrupting the direction of gold.

On the 15-minute cycle, after the price spikes high, it has consistently maintained a range-bound pattern. Short-term support is located around 4160, while upside pressure focuses on the previous high of 4220.

Set up long positions on a pullback within the 4140–4160 range, with targets at 4200 and 4220.
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