Gold Short To Medium Term OutlookGold bounced from the lower Support Zone after briefly breaching $3,270. Price is now attempting a recovery, currently trading near $3,290, but remains below both the 50 EMA and 200 EMA — confirming bearish pressure is still intact.
For bulls to gain momentum, we need to see a clean break and hold above $3,298–$3,327which would open the path toward $3,352 and possibly higher resistance levels like $3,364 and $3,383.
Until then, this move may simply be a short-term pullback within a broader downtrend. If price fails to reclaim $3,327, watch for a drop back toward $3,270, with a deeper correction targeting the $3,241–$3,211 zone.
📌 Key Levels to Watch:
Resistance:
$3,298 • $3,327 • $3,352 • $3,364 • $3,383
Support:
$3,270 • $3,241 • $3,211 • $3,179
🧠 Fundamental Focus:
This week is packed with high-impact events — including Non-Farm Payrolls on Thursday. These could trigger sharp moves in gold, so stay cautious and manage risk wisely.
