Gold Price (XAUUSD) Retesting Fibonacci Support Zone

Gold (XAUUSD) is currently in a technical phase that aligns with a classic **retesting formation**, where price action returns to previous support levels before resuming its bullish trend. After hitting a recent high near 3,350–3,400, gold has begun a healthy retracement, with key Fibonacci levels acting as potential demand zones. The 3,200–3,150 range appears to be a strong support zone, and if this level holds, it could trigger the next leg up in the bullish trend. Volume remains supportive, suggesting market interest is still intact, and buyers may be preparing for re-entry.

This consolidation phase could offer an excellent opportunity for smart money accumulation, particularly as gold respects major technical levels and Fibonacci retracement zones. From a macro perspective, continued geopolitical tensions, inflationary concerns, and central bank accumulation of gold provide a strong fundamental backdrop that supports a long-term bullish outlook. If gold maintains above the key 0.5 and 0.618 retracement levels, we could soon witness a new wave targeting the 3,350 to 3,400 resistance zone once again.

Market participants should watch for confirmation through bullish candlestick patterns and increasing volume in the coming sessions. A break above 3,275 would further validate bullish continuation and may serve as a trigger point for momentum traders. The broader trend remains intact, and current price action fits the pattern of a technical breather before the next impulsive rally.

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