Gold Tests Key Resistance Amid Bullish Momentum
Gold (XAU/USD) is testing the $5,100 resistance level within a symmetrical triangle pattern, with SPDR Gold Trust inflows signaling strong bullish momentum. The precious metal has held firmly above the $5,000 support cluster, suggesting resilience despite short-term fluctuations.
COMEX gold futures currently trade between $5,030 and $5,080, with technical indicators pointing to neutral-to-bullish conditions. The RSI shows room for further upside, while the formation of higher highs and lows since the $4,720 intraday bottom indicates a V-shaped recovery.
Market participants are watching for a confirmed breakout from the symmetrical triangle pattern, which could dictate near-term price direction. Macro factors including DXY trends and ETF flows remain key drivers alongside technical signals.