Gold maintains positive bias on USD weakness, safe-haven demand

Gold seems poised to appreciate further while above the $5,100 resistance breakpoint

The recent breakout through the $5,100-mark horizontal barrier was seen as a key trigger for the XAU/USD bulls. The positive outlook is reaffirmed by the fact that the bullion holds above the rising 200-period Simple Moving Average (SMA) near $4,948, which keeps the broader upward structure intact despite the latest pullback from last weeks highs.

The Relative Strength Index (RSI) hovers around 59, above the 50 midline, which suggests underlying buying pressure remains in place rather than a full loss of momentum. However, the Moving Average Convergence Divergence (MACD) has slipped further into negative territory with the line below the Signal line and a negative histogram, pointing to fading upside momentum and warning that bulls lack strong conviction at current levels.

Initial support emerges near $5,150, where recent lows align with the short-term consolidation floor, followed by a deeper cushion at $5,100 if sellers extend the correction. A break below $5,100 would expose the $5,050 area, though the rising 200-period SMA below $4,950 is expected to underpin the broader bullish context while it holds.

On the upside, immediate resistance sits around $5,220, just beneath the recent swing high, with a clear break opening the path toward $5,260. A sustained move above $5,260 would signal renewed bullish momentum and shift the focus to higher highs in the coming sessions.