Gold is still stuck in a holding pattern, but the bullish long-term case remains intact, says Tanglewood's Bruce

Gold is holding gains after testing critical support near $4,000 an ounce, but the market is still seen as trapped in a broad consolidation range. The key near-term drivers are clarity on interest rates and inflation, suggesting a wait-and-see setup rather than a directional catalyst. The article is mainly a strategist view on positioning and technical support, with limited immediate market impact.

Analysis

Gold is holding gains after testing critical support near $4,000 an ounce, but the market is still seen as trapped in a broad consolidation range. The key near-term drivers are clarity on interest rates and inflation, suggesting a wait-and-see setup rather than a directional catalyst. The article is mainly a strategist view on positioning and technical support, with limited immediate market impact.