Gold Holds Above $4,500 Amid Strategic Buying

The gold price has been consolidating around $4,700-$4,718 per ounce, up about 0.61% on the session and on track for a 2.25% weekly advance.

Despite this, the metal remains below its key resistance zone at $4,770 and is still trading below the descending trendline that has capped every advance since March 2026.

The single number that defines the current setup is $4,500, holding above it opens the path to $5,000 and beyond, while losing it sends prices toward $4,100 and a deeper measured-move target near $3,811.

However, the intraday picture is mixed, with some indicators showing early signs of weakness, such as declining MACD on the four-hour chart and an overbought Bull/Bear Power gauge.