International gold will move sideways within a range next Monday. It will edge higher after the opening before retreating on resistance, trading between 4480 and 4580 overall.
Fundamentally, the U.S. dollar and Treasury yields remain firm, capping goldās upside. Meanwhile, continuous gold purchases by global central banks provide solid underlying support, creating a balance between bulls and bears. U.S. manufacturing data will be the key driver: strong data will boost the dollar and likely pull gold lower, while weak data will lift gold prices.
Technically, gold has pulled back after surging, with heavy selling pressure overhead and limited short-term upward momentum. The primary resistance stands at 4550, and stronger resistance lies in the 4580ā4600 zone, where price is prone to renewed downside pressure. Immediate support is at 4500ā4510; holding this area will keep the range-bound trend intact. A break below here will trigger a further drop toward the strong support at 4480.
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