Gold buyers push back after a rebound lifted prices above two key hourly moving averages, although sellers still hold the broader trend.
Gold has trended lower since it reached about $4,890.96 on April 17. During that slide, the metal fell below its 100-day moving average, now at $4,667.04, and its 200-day moving average, now at $4,458.36. As a result, the longer-term bias still favors sellers. The drop also took gold to its lowest level since November 5, 2025.
In the near term, however, buyers showed more strength. On Tuesday, gold set a fresh cycle low at $3,942.43. That move broke below the June 25 low of $3,962.09. Then in Wednesday’s session, the price slipped to $3,960.19, just under that earlier swing low, before new buying emerged.
Gold Buyers Push Back Near Resistance
That recovery pushed gold above the 100-hour moving average at $4,027.29 and the 200-hour moving average at $4,070.75. The market is now trying to stay above the 200-hour line. Therefore, that level has become a key test for buyers.
If buyers hold that support and push above Wednesday’s high of $4,115.67, the rebound could extend. In that case, another round of short covering may follow, and near-term momentum may improve further.
Key Levels Now in Focus
However, a move back below the 200-hour moving average would weaken the recovery attempt. Attention would then shift to the 100-hour moving average. If gold breaks below that level, today’s rise would look more like a corrective bounce. That would put sellers back in control.
You can access our other news on natural gas markets and global market developments here.
