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MENAFN- Daily Forex) Today's Gold Analysis Overview:
The Overall Gold Trend: Remains in a bearish bias. Today's Gold Support Points: $4455 – $4420 – $4360 per ounce. Today's Gold Resistance Points: $4540 – $4580 – $4640 per ounce.
Today's Gold Trading Signals:
Bullish Scenario: Buy Gold from the support level of $4,410 with a target of $4,600 and a stop loss at $4,370. Bearish Scenario: Sell Gold from the resistance level of $4,610 with a target of $4,450 and a stop loss at $4,670.
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Note: These recommendations are suitable for medium-to-long-term traders, provided there is strict adherence to capital and risk managementDaily Technical Analysis of Gold/US Dollar (XAU/USD):
During yesterday's trading session, gold prices remained under selling pressure every time they attempted to rebound. The strength of the US dollar, rising oil prices, and increasing pressure on central banks to tighten monetary policy continue to dampen investor appetite for the precious metal. According to top gold trading platforms, gold prices declined from a high of $4,541 per ounce during the session to a support level of $4,463 per ounce at the time of writing.
Top Regulated Brokers1 Get Started 74% of retail CFD accounts lose money Gold Selling Scenario Remains the Strongest
According to the technical outlook, the stability of gold prices around and below the support level of $4,500 per ounce will continue to support the sellers' dominance over the trend. The movement of technical indicators is in a negative bias so far. The 14-day Relative Strength Index (RSI) is below the neutral line. The 100-day Simple Moving Average (SMA) is below the 200-day SMA, and the MACD indicator joins the technical indicators confirming the bearish bias, signaling a stronger downward move until reaching oversold territories.
Via the best trading platforms, and over the past three weeks, gold traded neutrally within a narrow range amid uncertainty surrounding a potential peace agreement between the United States and Iran, as its movements were mostly driven by circulating news.
As is well known, gold, which yields no return, is considered more attractive to investors when interest rates are low. However, this scenario seems unlikely as long as the war continues, as central banks will be more inclined to keep interest rates high to combat inflationary pressures Banks' Gold Reserves
In this regard, and according to the European Central Bank (ECB), this was the percentage of gold in foreign reserves held by central banks around the world by the end of 2025. The share of gold exceeded the share of US Treasuries (22%) and the euro's share (15%). Other dollar-denominated reserves accounted for 20%.
Mainly, this percentage had risen from 20% in the previous year, due to the rise in gold prices, rather than central bank purchases of bullion.
After years of overbuying, these banks' appetite for increasing their gold holdings has waned as the price of the precious metal has risen (gold has increased by more than a third in the past twelve months).
Some banks have already begun reducing their holdings. At the beginning of this year, Turkey sold or lent a significant amount of gold to defend its currency following the US-Israeli attack on Iran, according to the European Central Bank Forecast in the Coming Months
Despite gold's weakness in recent months, many gold market experts expect the price of the yellow metal to rise by the end of 2026, with banks like JPMorgan forecasting an average price of $5,000 per ounce, while Goldman Sachs has set a target at $5,400 per ounce.
Generally, gold was on track to achieve or exceed those targets after a strong start to the year, hitting a record high of around $5,600 per ounce in January.
However, geopolitical tensions took a toll on the outlook for another strong year similar to 2025, when prices surged by 60%. So far in 2026, the price of gold has risen by 4.5%.Conclusion:
Obviously, the gold market will remain under selling pressure. Therefore, the prices will continue to experience continuous volatility if the factors currently affecting the markets remain without a radical change.
EURUSD Chart by TradingViewTrading Advice:
Dear Traders Up trader, despite the dominance of selling pressure in the short term, some long-term investors prefer gradual buying on dips. Strictly, it is essential to adhere to capital management and set stop-loss levels to mitigate risks.
Ready to trade today's Gold prediction? Here's a list of some of the best XAU/USD brokers to check out.
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