Gold followed our expectations last week, rallying sharply within wave C. It approached the $2630–2650 resistance area yesterday, encountering further resistance. Key Levels: Immediate Resistance: $2630–2650, with $2641 as a key breakout level. Immediate Support: $2600–2611. A break above $2641 could signal a stronger rally toward the $2700 area, completing wave C as part of a broader corrective rebound. However, the market remains range-bound with a slight bearish tilt. Short-Term View: Gold may rebound to $2641–2655 if prices hold above $2600–2611. Long-Term Trend: The long-term bullish trend remains intact. In the medium term, gold is expected to trade within a wide consolidation range due to limited momentum and reduced activity during the holiday season. Without new geopolitical tensions, gold is likely to maintain a neutral to slightly bullish stance this week.