Gold Price Forecast: Breakout Could Set Next Major Move - FXEmpire

AI desk brief

Gold is coiling between $4,341 support and $4,434 resistance, with Wednesday’s low holding the lower rising trendline and buyers regaining control into the close near $4,402.12. A decisive break above $4,434 would confirm a higher swing low, reclaim the downtrend line, and open a move toward $4,460, then $4,511.

On the downside, a break below $4,341 would flip the short-term tone bearish and expose $4,282, then the 50-day moving average near $4,262. The broader bullish structure remains intact while gold holds above the 50-day; the larger ABCD projection points to an upside target near $4,984, with $4,966 (61.8% retracement) as a nearby resistance zone.