Gold has retreated from its earlier highs earlier this week, where it touched $2,942. Currently, it stands nearly 2% lower. Many wonder if the precious metal has simply run out of steam or if the bulls are taking a moment to regroup. As the market appears to consolidate, investors should pay close attention to upcoming economic indicators that could renew momentum. The near-term chart suggests potential trading opportunities, and being mindful of key support and resistance levels is crucial for successful trades within this fluctuating market.