Gold H4: Recovery Supported by Weaker USD and Yields

Hello everyone,

The current backdrop is relatively supportive for gold. Recent movements in the US bond market reflect a tug-of-war in investor sentiment. Initially, yields rose due to inflation concerns driven by higher energy prices linked to tensions involving Iran. However, as recession risks gained more attention, capital rotated back into bonds — pushing yields lower and indirectly supporting gold. At the same time, expectations that central banks may need to ease policy if growth weakens are also providing a foundation for gold’s medium-term upside.

With the current structure, my preferred scenario is that gold may pull back toward the 4,550–4,600 support zone to test demand. If this area holds, the market could form a consolidation base and continue higher to retest the 4,800–4,900 region, potentially extending toward 5,000 if supported by additional macro catalysts.

What’s your view — continuation toward 5,000 or another rejection?