Gold is currently fiercely contesting the 5111 level, and the price is likely to enter a consolidation phase with a potential upward correction📈📈📈

On the 1-hour chart, the MACD bearish momentum continues to weaken, and the lower band of the Bollinger Bands is rising in sync, indicating room for further upward correction in the short term.

Key resistance levels to watch are twofold: first, the descending trendline around 5139; second, the previously emphasized resistance zone between 5160 and 5180.

The next move depends on whether the price can hold above 5111.
Support levels are around the 5060–5040 range.
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