The post XAU/USD bulls remain capped below $4,600 appeared on BitcoinEthereumNews.com.

Gold (XAU/USD) maintains a moderate bullish tone on Tuesday, extending its recovery from last week’s lows near $4,100, yet with resistance at the $4,600 area, holding upside attempts for now. The precious metal is drawing some support from the pullback on US Treasury yields following comments by the US Federal Reserve (Fed) Chairman, Jerome Powell, who cooled hopes about immediate interest rate hikes, affirming that inflationary pressures remain “well anchored” despite the higher energy prices. Apart from that, a report by the Wall Street Journal released earlier on Tuesday suggested that US President Donald Trump would have told his aides that he is willing to end the war soon, even if the Strait of Hormuz remains closed. This news has provided some risk relief, allowing European equities to rally and leaving the US Dollar index (DXY) stalled below a key resistance level. Technical Analysis: Gold’s correction might reach the $5,000 area XAU/USD trades at $4,556.93 amid a modestly bullish near-term. The Relative Strength Index (RSI) in 4-hour charts hovers in the mid-50s, showing steady but not stretched upside momentum, while the Moving Average Convergence Divergence (MACD) holds in positive territory, suggesting buyers retain control even as momentum cools from earlier peaks. Recent price action suggests that XAU/USD’s downtrend might have hit a temporary bottom last week, with the higher low on Thursday pointing to a potential trend shift. Bearing this in mind, thw pair might be in the C-D leg of a Gartley pattern, targeting the $5,040 area, a previous support-turned-resistance on March 16 and 17. Before that, resistance is at the 38.2% Fibonacci retracement of the March sell-off, at the $4,600 area, and the March 20 high at the $4,735 area will challenge bulls. A bearish reaction below the March 26 low, at $4,355, would cancel this view and…

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Filed under: News - @ March 31, 2026 11:20 am