Gold continues to extend its rally after markets reacted positively to news that tensions around the Strait of Hormuz are easing, along with the U.S. easing some sanctions on Iran. These developments have improved market sentiment and supported the recent rebound in gold prices.

However, the rally is beginning to slow as price approaches the key 4,300 resistance area. The market is likely to wait for fresh catalysts, particularly Friday's Non-Farm Payrolls (NFP), as well as further developments in the Middle East and the ongoing U.S.–Iran negotiations before confirming the next major move.

📌 Trading Idea

In the short term, gold remains in an uptrend on the H1 and H2 timeframes, but price is currently consolidating within a 4,240–4,305 range.

This range will be the key area to monitor ahead of Non-Farm.

If price holds above 4,240 and successfully breaks 4,305, the rally could extend toward 4,330 | 4,360 | 4,380, with higher targets at 4,400–4,450.
On the other hand, if 4,240 fails to hold, gold may retrace toward 4,150. A break below this support could expose 4,100, followed by 4,055.
📌 Trading Plan

Resistance:
4300–4305 | 4330 | 4360 | 4380 | 4400 | 4450

Support:
4240 | 4150 | 4100 | 4055

📌 Personal View

For now, I prefer trading within the 4,240–4,305 range until the market confirms a decisive breakout.

The preferred strategy is to buy pullbacks into support and sell rallies into resistance.

The 4,150 level remains the most important support to watch. If this level breaks, I will shift my bias toward selling, anticipating a deeper corrective move.

📌 What do you think?

Can gold break above 4,300 before Non-Farm, or is the market simply consolidating ahead of another major move?