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      Gold Prices Struggle to Break Resistance Despite Modest Gains

      Gold prices have seen a slight increase, rising approximately $9 to reach $4,169. However, this rebound faces challenges as it struggles to surpass the falling 100-hour moving average, currently positioned at $4,180.40. This technical barrier continues to keep sellers in control, despite the day's modest gains.

      Last Friday, gold tested a significant resistance area that included multiple technical levels: the 100-hour moving average, the 200-hour moving average, the 100-day moving average, and a 50% midpoint at $4,319.75. These levels converged around $4,319, providing sellers with a clear target to limit their risk. The inability of buyers to push through this resistance led to a decline in prices, which fell below the 61.8% retracement level at $4,230.70 and approached the August breakout swing area near $4,115.61, where buyers found some support.

      While buyers managed to initiate a corrective bounce from this support level, they must now overcome the immediate hurdle at the 100-hour moving average to regain control. A sustained move above this level could shift the short-term outlook for buyers, with the next target being the broken 61.8% retracement at $4,230.70. Conversely, continued resistance at the moving average keeps sellers in the driver's seat, with the $4,115.61 swing area as the next downside target. If prices fall below this level, the market could become more vulnerable, with $4,000 as the next significant reference point.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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