Gold Price Consolidation Tests Key Support Levels Around $4,486

Gold prices have been consolidating after a sharp correction from their recent high of $4,755. The current price is trading near $4,486, which is almost exactly at the Daily VC PMI mean of $4,487.

This represents a short-term equilibrium and an important decision point for the next directional move. The immediate bullish objective is to break above Daily Sell 1 at $4,521, followed by Daily Sell 2 at $4,559.

A sustained breakout above $4,559 would strengthen momentum and target the Weekly VC PMI mean at $4,593. Above that level, the descending resistance line near $4,615, $4,630 becomes the next technical obstacle.