Gold at Its Golden Support

The daily chart of GOLD shows that after a strong rally from around $3,200, the price has now pulled back toward the 50-day moving average (around $3,860) — a level that has repeatedly acted as a key support over the past several months, sparking multiple upward waves each time.

Short-Term Outlook (next few days to weeks):
In the short term, the $3,850–$3,880 zone is a crucial support area. If gold holds this level and closes above $4,050, a new bullish wave toward $4,250–$4,380 could begin.
However, a confirmed break below $3,850 could trigger a deeper correction toward $3,600 or even $3,400.
• Bullish short-term target: $4,250–$4,380
• Bullish stop loss: Below $3,840
• Bearish short-term target: $3,600–$3,400
• Bearish stop loss: Above $4,050

Long-Term Outlook (1–3 months):
The broader trend remains bullish — the 50-day moving average is sloping upward, and every pullback to this level has so far attracted buyers.
If the price manages to reclaim and sustain above $4,100, the next major target lies in the $4,400–$4,500 range, potentially marking new all-time highs.
Conversely, if gold loses support at $3,850 and consolidates below it, the trend could shift from bullish to neutral, with possible downside toward $3,400.
• Bullish long-term target: $4,400–$4,500
• Long-term stop loss: Below $3,850

In summary, $3,850 is the golden support zone — holding above it could ignite the next leg of the rally, while a breakdown below it might open the path for a deeper correction toward $3,600–$3,400.