Commodities
Gold Price Sees Breakout to $4,371 Amid Weak Dollar
The spot gold price broke out of its wedge formation on August 5, 2026, at around $4,120-$4,150. The breakout led to a rally that saw prices reach as high as $4,371 on Friday. This rebound has broken the bullish structure and also the 50-day SMA, pointing towards the 200-day SMA in the $4,500 region.
The Relative Strength Index (RSI) remains above the midline, indicating possible upside momentum in the gold market for the short term. The weak US dollar is supporting the rebound ahead of the upcoming US Consumer Price Index (CPI) release.