On the daily chart, Gold is consolidating inside a tight range following the sharp rejection from the $4,380 resistance. Price is currently sitting around the $3,994 level, with the $3,925 zone acting as a key demand area where buyers have stepped in multiple times.
Despite the pullback, the structure remains broadly bullish, as the 50-day MA is still trending above the 200-day MA, and the market continues to respect the last major breakout zone. However, momentum has slowed noticeably, signaling a pause after the massive September–October rally.
Immediate Resistance: $4,135
Major Resistance: $4,380 (previous high / profit-taking zone)
Key Support: $3,925 (range floor)
Next Support Below: $3,700-3800 and $3,635 if $3,925 fails
Zooming out to the weekly timeframe, the broader uptrend is clearly intact. Gold continues to climb along the long-term rising trendline from early 2024. The current consolidation appears corrective rather than bearish, typical behavior after a parabolic move.
As long as price holds above $3,925, buyers retain structural control.
A clean push back above $4,135 would likely re-open a run toward $4,250 to $4,380. On the other hand, a confirmed breakdown under $3,925 would shift momentum short-term bearish, targeting $3,635 to $3,433.