Gold Remains Under Pressure While Key Support Levels Come Into Focus

Gold continues to show a bearish technical outlook as prices remain below the multi-month downtrend line and major resistance around 4,400. Momentum indicators also remain weak, suggesting sellers still have the upper hand. A break below 4,100 could open the door toward 4,000, and a sustained move above 4,400 would improve the outlook and expose 4,650.

If prices remain below the key 4,100 area, a deeper decline toward 3,500 becomes possible. Despite these risks, the broader long-term trend still favours buying on major dips, with key retracement levels likely to attract renewed investor interest.

Gold Daily Chart