Gold prices recovered above 200-hour and 100-hour moving averages, signaling potential short-term momentum shift after recent declines.
Gold buyers staged a rebound after the metal dipped to $3,960.19, just below the June 25 low of $3,962.09. The recovery pushed prices above critical short-term levels, including the 100-hour moving average at $4,027.29 and the 200-hour moving average at $4,070.75.
The metal had been in a downtrend since peaking near $4,890.96 on April 17, falling below both its 100-day ($4,667.04) and 200-day ($4,458.36) moving averages. The decline marked its lowest level since November 5, 2025, reinforcing a bearish longer-term technical outlook.
Traders are now watching whether gold can sustain levels above the 200-hour moving average. A break above today’s high of $4,115.67 could trigger short covering, while a drop below the 100-hour average may signal a continuation of the downtrend.