Gold consolidates at $3,365 after 37% annual gain, range-bound near highs

Gold futures are trading within a tight intraday range of $3,351-$3,378, showing minimal movement as the precious metal consolidates following a remarkable 37% surge over the past twelve months. Current price action remains unchanged from levels seen one week, one month, and three months ago, indicating a clear sideways consolidation phase despite the broader bullish trend. The 50-week high at $3,509.9 remains well above current levels, suggesting potential upside room. This consolidation pattern typically emerges after extended rallies, as traders await fresh catalysts from economic data or central bank policies. Technical indicators point to strong support near $3,350, while resistance clusters around $3,380-$3,400. The pause in momentum could represent healthy price action before the next directional move, with traders closely monitoring dollar strength and inflation expectations as key drivers for gold's next phase.