Guys, good morning! Right now gold is trading around 4,066, and the overall trend is weak with sideways consolidation.

From the chart, both the 4-hour and 1-hour moving averages are sloping downward; bearish power has the upper hand. After last night’s spike and subsequent pullback, today’s early session also opened on a green-to-red candle. Based on institutional views, after a recent pullback, gold is likely to maintain a ranging pattern in the short term.

Intraday direction: bearish first. For upside pressure, watch 4,080–4,085. For downside support, focus on 4,050–4,040.

For trades, it’s suggested to short on rallies: short if it bounces back above 4,075; add shorts at 4,085. Set stop-loss at 4,092, and the target is around 4,050. $XAU ‌