Gold futures trade near $4,199.10, up $42.10, after rebounding from a $4,091.20 low and reclaiming daily resistance at $4,176 and $4,195. Price now sits just under the weekly VC PMI mean of $4,207, with weekly Sell 1 at $4,271 the next upside objective should the mean give way.
Rebound reclaims daily resistance
Gold futures are trading near $4,199.10, up $42.10 on the session. The move follows a sharp recovery from the day's $4,091.20 low. The bounce has reclaimed daily resistance at $4,176 and $4,195. That puts price just beneath the weekly VC PMI mean of $4,207, and sustained acceptance above that mean is needed to strengthen the bullish read. But the chart's daily labels need caution: $4,195 is marked Sell 1 and $4,176 Sell 2, an ordering inverted from conventional VC PMI structure, so those designations should be verified.
Clearly visible downside references sit at Buy 1 of $4,133 and Buy 2 of $4,109. Below that sit weekly Buy 1 at $4,098 and weekly Buy 2 at $4,034.
Holding the pullback zone matters
Holding the $4,195–$4,176 zone on a pullback would support another attempt through the weekly mean. Above that, the chart's $4,259 high and weekly Sell 1 at $4,271 become the next upside objectives. Failure to hold $4,176 would weaken immediate momentum and raise the chance of a return toward the daily equilibrium area and $4,133. A break below $4,098 would expose the recent low and potentially $4,034.
Using the $4,091.20 low as a provisional Square of 9 anchor produces ascending references of $4,123.24, $4,155.41, $4,220.12 and $4,351.05 at the 45°, 90°, 180° and 360° marks. These are mathematical projections rather than independently established resistance, though the $4,220 area sits above the weekly mean and offers a secondary confirmation point.
Rate and dollar trends still drive direction
The World Gold Council identifies lower interest rates, dollar weakness and heightened uncertainty as forces that can support gold, while rising yields and dollar strength can restrain advances. Their direction should be watched alongside price confirmation at the resistance levels outlined above.
Source: Investing.com
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