Gold trades sideways as traders weigh geopolitics and Fed outlook

From a technical perspective, the daily chart shows XAU/USD consolidating between $5,000 and $5,250, reflecting a pause in the broader uptrend. The near-term bias remains mildly bullish as the price continues to hold above the rising 21-day and 50-day Simple Moving Averages (SMAs), which in turn remain well above the 100-day SMA, reinforcing the underlying bullish structure.

The Relative Strength Index (RSI) is hovering near 55, holding above its midline and suggesting that bullish momentum remains intact. Meanwhile, the Average Directional Index (ADX) has slipped toward 12, pointing to waning trend strength.

On the upside, $5,200 remains the immediate resistance level, followed by Tuesdays peak near $5,238. A decisive break above this zone could revive bullish momentum and open the door for a move toward $5,419, the March 2 high.

On the downside, initial support emerges near the 21-day SMA around $5,115, followed by the 50-day SMA near $4,932. A sustained break below this area could trigger fresh selling pressure, exposing the 100-day SMA near $4,556 as the next key support level.