Holding the Line at $4,103
So far, gold has failed to decisively extend its bearish trend and continues to hold a key support zone near the 78.6% Fibonacci retracement at $4,103. Notably, support was found nearby at $4,098 during the sharp selloff that occurred in March. Unless a new high for the day is reached before the end of the session, Thursday is on track to complete an inside day, with trading contained within Wednesday’s range.