Gold continues to firmly remain in the all-time high zone, reflecting the strong presence of buyers in the market. The consistent price pattern forming higher highs and higher lows (HH–HL) emphasizes that buying pressure is still steering the movement, simultaneously creating a well-defined bullish channel. As long as this structure doesn’t break downwards, the prospects for a correction are expected to be limited, and the chances for continued rises remain open.
From a technical standpoint, the bullish signals are further reinforced by the upward-moving Moving Average, the ZigZag maintaining an uptrend formation, and the MACD residing in the positive area, indicating that the buying momentum is still strong. This combination of factors provides additional support for Gold to sustain its upward trend, with further strengthening potential remaining feasible as long as buying pressure continues to dominate the market.
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On the 15-minute chart, Gold retains the opportunity to continue its ascent with ongoing bullish technical support. The upward-moving Moving Average indicates that the short-term trend remains positive, bolstered by the ZigZag maintaining a bullish formation and the MACD in the positive area echoing the sustained buying momentum. Under these conditions, Gold is currently testing resistance at the $4,553 level, and as long as prices stay above the intraday support, further strengthening opportunities remain plausible.
Technical Reference: Buy while above 4,470
Potential Take Profit 1: 4,537
Potential Take Profit 2: 4,553
Potential Stop Loss 1: 4,485
Potential Stop Loss 2: 4,470
