In the daily chart, XAU/USD trades at $4,641.11, extending a strong bullish bias as spot gold holds above the 21-day, 50-day, 100-day and 200-day simple moving averages (SMAs), with the latter at $4,516.89 offering a nearby dynamic floor. The Relative Strength Index (14) has pushed into overbought territory around 71.8, suggesting that while the broader uptrend remains intact, upside momentum could be prone to short-term pauses or corrective swings after the latest vertical advance. On the downside, initial support is seen at the 200-day SMA near $4,516.89, followed by the 100-day SMA around $4,379.67, which reinforces a deeper but still constructive pullback zone. Below there, the 50-day SMA at $4,179.14 and the 21-day SMA at $4,295.91 form additional underlying demand layers that should limit bearish attempts and keep the medium-term structure biased to the upside as long as price continues to trade above these averages
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