Balancing Range & The 4190 Pivot

GC1! MGCG2026 XAUUSD

Traders. Update on the current auction structure.

Market Context (No New Money): We have yet to see any "New Money" or Initiative Buying enter the market. Yesterday developed as another Balance Day, capped by some late-session liquidation.

The Reality: The auction remains range-bound between 4,290 (High) and 4,190 (Low). Without a fresh catalyst, price is simply rotating within this established bracket.

Structure & Key Levels:

Bullish Scenario: If Gold can hold acceptance above Yesterday's Low, the rotation favors a re-test of the upper distribution around 4,260 – 4,270 later this week.

Bearish Scenario: The line in the sand is 4,190. A breakdown and acceptance below this level changes the context significantly, likely dragging the auction down to repair the November Balance Area (~4,100).

Plan:

Stance: Neutral / Range Trading.

Execution: Fading the extremes of the 4290-4190 range until we see a breakout with volume confirmation.

Talk to you for the next update.