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Gold (XAU) has recently shown some interesting movements.
The most obvious signal is that the 30-minute trading volume suddenly surged by 6.1%, which often indicates increasing market participation. The current quote stands at 4858.57 USDT.
From a technical perspective, the short-term support level is set around 4835.39 USDT, with only 0.61% space from the current price. Going further down, there is a deeper support zone between 4661.54 and 4669.0.
From a trading standpoint, approaching support areas usually attracts many long participants. If you want to go long, you might consider placing an order around 4835.39 USDT and wait for a rebound opportunity.
The key here is that a sharp increase in volume often signals that a major move is imminent. The subsequent trend will depend on closely monitoring market dynamics.