Gold's Stubborn Range – What Gives?

Anyone else feeling a bit like a broken record watching $XAUUSD? We've been ping-ponging between 2300 and 2350 with remarkable consistency for what feels like an eternity in market time. I mean, you could set your watch by it, if your watch was stuck in a five-day loop.

From a technical perspective, it's a grind. We've got pretty clear resistance forming around 2350-2360 – every probe up there gets swatted down with surprising alacrity. On the flip side, the 2300-2305 area is proving to be a pretty sturdy floor. Each dip into that zone seems to find buyers ready to step in. My current thinking is that we're consolidating after the last leg up, possibly waiting for a new catalyst. The risk to this range-bound view, obviously, is a decisive close and continuation above 2360 or below 2300. A strong break either way would probably signal the next meaningful move, and frankly, I'm ready for it. This chop is getting old.