Gold faces mixed pressure on Thursday, held above $4,000 as the Israel-Hamas peace deal prompts profit-taking, while a stronger USD weighs on the safe-haven metal. Dovish Fed expectations and ongoing US government shutdown concerns provide some support, keeping bullion from a sharp decline.

FOMC minutes show most officials favor further rate cuts this year, with markets pricing in high odds for October and December cuts. Traders now await Fed Chair Powell’s speech for direction, while geopolitical tensions and US labor market risks continue to cap any meaningful slide in Gold.

XAU/USD TECHNICAL OVERVIEW

Technical Structure: Gold shows a strong bullish structure on the daily chart, trading above the 20-day SMA, signaling sustained upward momentum. Shorter timeframes show consolidation on the 4-hour and channel consolidation on 1-hour chart, suggesting temporary pauses before potential continuation.

Weekly Trend: Extremely bullish, indicating strong long-term momentum.

Intraday Trend / Strategy: Bullish to neutral; consider buying on support levels and selling near resistance.

Key Levels:

• Support: 4025, 4000, 3980

• Resistance: 4045, 4059 (all-time high resistance)