Gold Breakout Above 5100 Shifts Bias Back to Bullish

Gold has regained strength after breaking above 5100, shifting the near-term bias back to bullish. The move is supported by renewed safe-haven demand and fresh pressure on the US dollar following the Supreme Court ruling against Trump’s tariffs and the announcement of new global levies under Section 122.

Technically, the breakout above 5100 is important and gives bulls a clear level to defend. Momentum indicators such as RSI and MACD are supportive, but short-term signals show the market is stretched, with RSI in overbought territory. A pullback toward 5100 would offer a healthier entry and test whether buyers are committed to defending the breakout.

On the upside, the price has broken above an ascending triangle pattern above 5100. Key resistance levels to watch are 5341, then 5450. A sustained move above that zone could open the door toward the record high near 5598 and signal a broader bullish continuation. However, a sustained move back below 5100 would invalidate the bullish setup and raise the risk of renewed downside, potentially back toward the February lows.

XAU/USD 4 Hour Chart