Gold

Key insight

$4,492.90 trades inside the $4,400–$4,500 consolidation band. Reclaiming $4,500 opens a run to all-time highs near $4,600; losing $4,380 flips near-term momentum negative.

Holds above $4,400 structural support with gold at $4,492.90 (-0.66%); pullback is shallow relative to the multi-month uptrend. Real rates and USD weakness remain the dominant tailwinds.

Main risk

USD / Real-Yield Reversal

Snap higher in US 10-year real yields or a strong DXY bid above 102 would pressure gold back toward $4,350 support.