Gold Bulls Gain Momentum as Prices Target $4,502

Gold prices have confirmed a bullish reversal above key resistance, strengthening the case for an advance toward $4,502.

After signs of resistance and a weak close on Tuesday, buyers took back control of gold on Wednesday to reach a new high of $4,441.

This move saw gold close above the lower swing high of $4,382 from mid-June and above the 100-day moving average at $4,390, thereby confirming a bullish reversal signal and reclaim of a key moving average.