Gold Breaks Out of Bullish Doldrums Near $4,700 Resistance

Gold prices have broken into a powerful bullish breakout structure, according to an analysis of the VC PMI. The 15-minute chart shows gold trading near $4,663.70 after reaching a session high of approximately $4,690.40.

The advance from the five-day low of $4,378 represents a substantial change in momentum and confirms that buyers currently control the short-term trend.

According to the VC PMI analysis, the Daily mean near $4,646 is the primary short-term equilibrium. If price trading above this level continues, it will maintain the bullish bias.