Hello everyone,
Gold is showing a modest rebound today around 4,457 USD/oz after previously falling into the 4,428–4,440 area. This remains an important short-term support zone, but in my view, the current recovery is still not strong enough to confirm that buyers have fully returned.
The reasons behind the recent pressure on gold are relatively clear:
Where could gold go next?
Scenario 1: If gold holds above the 4,440–4,425 support zone, I expect a recovery toward 4,475–4,500. A successful break above 4,500 could open the door toward 4,525–4,550.
Scenario 2: If price breaks below 4,425, selling pressure may accelerate again. In that case, 4,400–4,375 becomes the next area worth monitoring for buyer reactions.
Personally, I lean toward a period of consolidation around support before the market chooses a clearer direction. For now, 4,500 remains the key level buyers need to reclaim to confirm a stronger recovery phase.
Gold is showing a modest rebound today around 4,457 USD/oz after previously falling into the 4,428–4,440 area. This remains an important short-term support zone, but in my view, the current recovery is still not strong enough to confirm that buyers have fully returned.
The reasons behind the recent pressure on gold are relatively clear:
- Strong USD and elevated Treasury yields: As long as the US dollar remains firm and bond yields stay high, gold tends to struggle because it does not generate yield.
- Positive US labor data: Better-than-expected ADP employment figures have reduced expectations of an early Fed policy pivot.
- Oil prices and Middle East tensions: Geopolitical risks continue to support safe-haven demand, but higher oil prices also increase inflation concerns, potentially forcing the Fed to maintain a restrictive stance for longer.
Where could gold go next?
Scenario 1: If gold holds above the 4,440–4,425 support zone, I expect a recovery toward 4,475–4,500. A successful break above 4,500 could open the door toward 4,525–4,550.
Scenario 2: If price breaks below 4,425, selling pressure may accelerate again. In that case, 4,400–4,375 becomes the next area worth monitoring for buyer reactions.
Personally, I lean toward a period of consolidation around support before the market chooses a clearer direction. For now, 4,500 remains the key level buyers need to reclaim to confirm a stronger recovery phase.
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Join our group and unlock real-time Forex, gold, and crypto signals — sharp insights, fast alerts, and opportunities you don’t want to miss.
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Related publications
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.