In the early Asian session, gold stabilized in a consolidation zone with a bearish outlook.

During the Asian morning trading session, gold remained steady. In a report from Swiss bank UBS, Ipek Ozkardeskaya stated that gold has now entered a medium-term bearish consolidation area below $4,115 per ounce, which is the key 38.2% Fibonacci retracement level from the October 2023 to January 2026 rally. This suggests the possibility of a deeper pullback. The senior analyst expects the target for gold bears to be $3,680 per ounce. However, she noted that gold remains an attractive asset for long-term investors, given that many central banks have been selling some of their gold reserves to offset the impact of rising energy prices, and will eventually need to replenish those reserves. Spot gold was flat at $4,008.01 per ounce.