Gold price recovers near 4,136 after Tuesday’s selloff
Gold is attempting to recover after a recent decline, with the price trading near 4,136. The key support zone of 4,121-4,129 has held, keeping the recovery attempt alive.
The current price action is seen as a neutral to cautious recovery while the price holds above the 4,121-4,129 zone. A sustained move above 4,156-4,157 is needed to improve the outlook.
Geopolitical tensions and central bank behaviors are contributing to a potential wave of risk-off sentiment in commodity markets. A cleaner downside break below 4,107 would be a bearish trigger.
The recovery attempt is still in its early stages, and traders are advised to map the key zones to their own instrument before making any decisions.