Volatility may arrive in gold market if there are any changes in the whole market risk tolerance.
XAU/USD short-term forecast
In shorter time frames, gold appears to be forming a trading zone between 3280 and 3360. This suggests the market is consolidating within this range before making a decisive move. Traders might look to buy near the 3280 support level and sell near the 3360 resistance, using tight stops to manage risk. Alternatively, a clear break above 3360 could signal a bullish continuation, while a drop below 3280 might indicate a bearish move.
XAU/USD daily charts review
Price consolidation has occurred in the range of 3250.60 to 3410.000. Further directional basis is needed to have higher volatility in price action.Daily Candle Chart
Traders going long
Continuing previous weeks bullish momentum 51.20 % of volume was in long positions. Traders are going long.
Meanwhile, in the 1000 point range around the latest price, the pending orders were 27 % to sell the metal.