At present, gold is attempting to hold its ground. From a technical perspective, XAU/USD is showing some resilience below the 200-hour Simple Moving Average (SMA), located near $4,025, indicating that buyers continue to provide support. At the same time, gains in the precious metal are capped by the 100-hour Simple Moving Average (SMA), located around $4,080.
Given the repeated failures to break above horizontal resistance near $4,155, where the 200-hour Exponential Moving Average (EMA) is located, the short-term outlook can be characterized as predominantly neutral.
The Relative Strength Index (RSI) is hovering around 41, indicating only a moderate easing of downward pressure. The MACD indicator is moving back toward the zero line, signaling that bearish pressure is fading rather than confirming the formation of a sustained bullish trend.
Therefore, any attempt to move higher could encounter resistance near the 50-hour SMA at $4,080. If this level is broken, gold prices could advance toward the 4,145–4,150 level, where selling pressure is expected to intensify.
On the other hand, important support levels are located at $4,011, yesterday's low, and the psychological level of $4,000.
