Gold Prices Eyeing Key Resistance Levels Near $4,788
Gold prices are currently trading near $4,675 after making a significant move from around $4,506 to a high of $4,755. This upward momentum has put gold in a bullish structure, and its immediate pivot is the Daily VC PMI mean at $4,674.
The analysis suggests that if gold sustains acceptance above this mean, it could continue towards the Daily Sell 1 level at $4,710, followed by Daily Sell 2 at $4,767. If the market continues to rise, the Weekly targets become increasingly important, with Weekly Sell 1 at $4,788 and Weekly Sell 2 at $4,895 representing major upside resistance and profit-taking zones.
On a correction below the Daily Mean, the primary high-probability mean-reversion support zones are Daily Buy 1 at $4,617 and Daily Buy 2 at $4,581. The Weekly VC PMI mean near $4,583 reinforces this area as an important structural support cluster.
From a technical perspective, the August 21 cycle marker remains an important timing reference, and price behavior around specific levels such as $4,710, $4,767, and $4,788 should be monitored for harmonic resistance and acceleration. A decisive breakout above $4,788 would strengthen the probability of a move towards the $4,895, $4,900 zone.