GOLD - The market is in a bear market

XAUUSD is trading within the 5,351–5,480 range, but the outlook remains bearish. Bears continue to dominate the market as the dollar and oil prepare for an uptrend.

The situation in the Middle East is contradictory; despite rumors of negotiations, there are signs of an escalation.
Trump announced a 10-day extension of the pause in strikes on Iran’s energy facilities, but markets do not trust these statements and expect the war to continue.
Risks of escalation are boosting demand for the dollar as a safe haven; oil traders do not yet trust Trump, and prices continue to rise. The market has completely ruled out a Fed rate cut this year → gold is under pressure.
Technically, the price is consolidating; a rebound has formed from the trend resistance and the flat line. If gold breaks through the nearest support level, it may head toward the lower boundary of the range.

Resistance levels: 4479, 4492, 4542
Support levels: 4420, 4351, 4319

As part of a counter-trend correction, the market failed to update its high and moved to retest the trigger (key support).
The local downtrend aligns with the global one. Gold is in a neutral range (consolidation). Focus on 4420.75. A close below support will trigger a drop to 4351–4319 (liquidity zones)

Best regards, R. Linda!