Gold Struggles Below $5,024 Resistance as Correction Continues

⬤ Gold is trading in a corrective pattern with only a weak rebound showing up on the charts. The bounce hasn't been strong enough to push prices into a clear upward move, and the market looks set to keep pulling back in the short term.

⬤ The technical picture is straightforward. First resistance sits near $4,950, with a stronger barrier between $5,000 and $5,005. These levels keep blocking any upside attempts as momentum stays weak. The morning high near $5,024 marks another key level that typically won't get broken again during this type of rebound.

⬤ What we're seeing right now is a bounce inside a bigger correction—not a real bullish move. Gold can't break back above resistance, which keeps the structure corrective with downward pressure still in play below those key barriers.

⬤ This setup keeps the near-term outlook careful. As long as gold stays under these major resistance zones, expect more consolidation and pullback rather than any immediate trend shift.