Gold price is trading at $4,542.39 as London opens, holding above the critical $4,540 support zone while the US Dollar Index (DXY) extends its collapse toward 99.00. In early trading, the Australian dollar rebounded sharply to 0.7155, signaling an uptick in risk appetite that would normally pressure gold. Yet XAU/USD remains bid, suggesting that the dollar’s broad weakness is overriding typical risk-on dynamics. Traders are waiting for whether $4,540 can serve as a springboard for a push toward the $4,572 resistance level during the European session.