Gold Prices Surge Above Key Resistance Levels as Bullish Momentum Continues

The gold market is showing exceptional strength, according to data from the Variable Changing Price Momentum Indicator (VC PMI). Trading at $4,457.8, prices have advanced above both the Daily Mean Price ($4,430) and the Weekly Mean Price ($4,299), indicating that buyers remain firmly in control.

The VC PMI identifies the market as remaining in a bullish expansion phase, with prices above $4,430 favoring buying retracements rather than attempting to fade the trend. Initial support lies at Buy 1 Daily ($4,399) and Buy 2 Daily ($4,342).

The next objective on the upside is the Daily Sell 1 level near $4,500, followed by Daily Sell 2 at $4,518. Beyond daily targets, the weekly algorithm projects Weekly Sell 1 at $4,524, with Weekly Sell 2 at $4,648 representing the extreme overbought level where profit-taking becomes increasingly probable.

From a Square of 9 perspective, the current rally continues to respect key geometric resistance levels generated from previous cycle pivots. Cycle analysis also supports the present bullish structure, with gold advancing within an intermediate cycle that favors higher prices into the next projected timing window before another corrective phase develops.