Lingrid | GOLD Weekly Outlook: Consolidating for the Climb
OANDA:XAUUSD perfectly played out my previous weekly idea . Gold push toward $4,500 has stalled as bullish momentum wanes ahead of year-end, with price now testing the upper boundary of its recent range near $4,530. 4H chart clearly shows the market is losing steam, hinting at a short-term pullback toward the $4,440 support zonea natural pause after a strong run. This is consolidation within a powerful uptrend defined by higher lows and a clear upward channel. The macro backdrop remains firmly supportive: central banks are still buying, geopolitics are volatile, and real yields stay low. This dip is not a warningits an opportunity to add to long positions with disciplined risk management.
The bullish market structure remains intact. Key support sits at $4,440, reinforced by the rising trendline. A break below $4,400 could trigger a deeper correction toward $4,250, but that would likely be a shallow retracement before resuming the climb. Conversely, a decisive close above weekly opens the door to fresh all-time highs in the $4,650 and higher, where resistance is thin. We should watch for bullish reversals on the 4H chart near support. TVC:GOLD s bull market is structural, not seasonal. This holiday slowdown is just the bull catching its breathdont mistake it for fatigue. The next surge is already being prepared and 2026 could start with it.
If this idea resonates with you or you have your own opinion, traders, hit the comments. Im excited to read your thoughts!