XAUUSD has staged a strong breakout from its consolidation zone and is holding above the Ichimoku cloud, signaling that buying momentum remains in control. Although the price is stalling near the upper boundary of the bullish structure, this is likely just a brief pause following a rapid rally.

The macroeconomic backdrop remains supportive of gold as the US dollar and Treasury yields weaken, while expectations of a more dovish Fed and safe-haven demand persist.

My preferred scenario involves a pullback to the 4,150 level, followed by a resurgence of buying interest that drives the price toward 4,320. As long as this support zone holds, the bullish trend remains intact.

This is a personal view, not an investment recommendation. Please ensure you manage risk before trading.