Gold Breaks Out Above Key Resistance Zone

Gold prices are trading near $4,726 after reaching an intraday high of $4,755. The metal has broken out of a powerful bullish structure and is likely to continue its upward momentum.

The Daily VC PMI at $4,696 serves as the primary short-term pivot point for gold traders. As long as prices remain above this level, the immediate bias favors continuation toward $4,741 followed by the recent high of $4,755.

A confirmed breakout above this zone exposes the next major resistance at approximately $4,788 and the Daily Sell 2 region near $4,800. Corrections should initially find support at the Daily Mean of $4,696, below which lies the Daily Buy 1 at $4,654 and Daily Buy 2 at $4,609.