Trump’s latest comments, foreseeing a near-term resolution to the Middle East conflict, softened the dollar and re-injected bullish sentiment into markets, lifting gold toward the 5,200 resistance.
Gold remains in consolidation, trading beyond the trendline connecting higher lows since February 2026. The bias leans neutral-to-bearish below the 5,200 resistance and above the 4,960 support.
A weekly close above 5,200 exposes: 5,250 - 5,320 - 5,400 - 5,600 - 6,000
On the downside, a close below 4,960 exposes a deeper correction toward: 4,840 - 4,680 - 4,480
These represent approximately 200-point declines between previously respected support zones. A break below the February 2026 lows could expose a further 1,000-point correction, resetting momentum before realigning the metal with potential new record highs.
Written by Razan Hilal, CMT
Gold remains in consolidation, trading beyond the trendline connecting higher lows since February 2026. The bias leans neutral-to-bearish below the 5,200 resistance and above the 4,960 support.
A weekly close above 5,200 exposes: 5,250 - 5,320 - 5,400 - 5,600 - 6,000
On the downside, a close below 4,960 exposes a deeper correction toward: 4,840 - 4,680 - 4,480
These represent approximately 200-point declines between previously respected support zones. A break below the February 2026 lows could expose a further 1,000-point correction, resetting momentum before realigning the metal with potential new record highs.
Written by Razan Hilal, CMT
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.