Gold Recovery Faces Key Test at $4,402

The price of gold is recovering after falling to an intraday low of $4,293. According to data from Investing.com, gold futures closed near $4,352.

Traders are watching key support and resistance levels around $4,347 and $4,332. A close above the daily mean at $4,347 is seen as a strong signal for a potential test of the daily Sell 1 target at $4,402.

The VC PMI indicates a high probability of reversion from Buy or Sell levels, with approximately 90% and 95% probabilities respectively. If gold holds above $4,347, immediate upside objectives include $4,402 and the daily Sell 2 level at $4,451.

However, if the price falls below $4,332, it would weaken the recovery structure and reopen the daily Buy 2 level at $4,298. Cycle analysis suggests that the recent decline may be entering a short-term exhaustion window.