Spot gold surpasses key technical levels, rising $90 on the day as dollar weakness fuels buying momentum.
Gold prices surged above the 200-day moving average at $4,501.13, extending gains by $90 intraday. The rally follows a broader decline in the U.S. dollar, strengthening bullish sentiment among buyers.
Earlier this week, gold traded near its 100-day moving average at $4,391.78 before breaking past the 200-day mark. The price has now cleared the 38.2% retracement level of the 2026 trading range at $4,573.87, a critical resistance point for further upside.
With the breakout, the next major target is the 50% retracement at $4,768.93, aligning with prior swing highs from May. Holding above $4,573.87 keeps the technical bias firmly bullish.