Gold futures opened the session with thin liquidity as several Asian markets remained closed for Lunar New Year. With fewer participants active, price swings became more sensitive to macro headlines and order flow shifts.
A modest uptick in the US dollar added pressure, limiting upside momentum and keeping buyers cautious.
Gold is currently hovering in the $5,700–$5,750 range, after briefly slipping below earlier intraday levels. Technically, the prior strong upward impulse is losing speed. Momentum is cooling, suggesting a potential consolidation phase rather than an aggressive selloff.
As long as price structure holds above $5,600, the broader bullish trend remains intact. For renewed upside continuation, gold needs sustained acceptance above the $5,820–$5,850 resistance zone.
For now, it’s a battle between soft liquidity and dollar strength structure will decide the next expansion.
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