Gold steady as Iran proposal lifts market sentiment, interest rate outlook caps gains

In the daily chart, XAU/USD is maintaining a capped tone as spot holds above the 200-day Simple Moving Average (SMA) at $4,257 but remains below the 100-day and the 50-day SMA.

This configuration suggests that while the broader uptrend is still underpinned by long-term support, the near-term rebound is constrained by overhead moving-average resistance, with the Relative Strength Index (RSI) around 46 and a low Average Directional Index (ADX) near 20 hinting at weak, directionless momentum.

On the top side, initial resistance is located at the 100-day SMA near $4,746, with a sustained break exposing the 50-day SMA around $4,863. On the downside, the $4,650-$4,600 area serves as the initial support zone, followed by the 200-day SMA near $4,257, where a clear violation would likely strengthen the bearish bias and open the door to a deeper correction.