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Forex

Gold Surges Past $4,100 as US Dollar Weakens

Guavy AI Editorial Team
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USD
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Gold prices surged past $4,100 on Monday as the US dollar faced selling pressure. This marks a bullish recovery for gold after trading near $4,092 earlier in the day.

The metal's price had dropped to $4,053 on Friday but bounced back above the 5-hour moving average at approximately $4,098. However, momentum weakened after rising towards $4,116.

Immediate resistance for gold is located around $4,100-4,098, while initial support lies at $4,080-$4,081. A sustained move below $4,080 could weaken the recovery and expose $4,071, followed by $4,053.

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