Gold Stuck at $4,300 as Traders Eye Crucial Technical Threshold
The price of gold has been stuck around $4,300 for four sessions after a winning streak that was its strongest this year. Now, traders are looking at a key technical threshold, $4,278, which could determine whether the recent bounce in prices has legs.
A persistent buyer, central banks, is providing a crucial floor beneath the market, adding 288.9 tonnes of gold in the second quarter of 2026. Their motivation is to diversify reserves against high sovereign debt levels.
The technical picture shows a market that has been through a tough time, shedding around 27 percent from its record high of roughly $5,595 per ounce struck in late January 2026. The battleground now is the 200-day moving average at $4,278, and analysts view a sustained close above this line as necessary to break the downtrend that has been in place since spring.