Buyers Challenge Short-Term Resistance
Gold showed short-term strength on Friday, advancing to a six-day high of $4,208, and testing resistance at the lower swing high of $4,203 from early July. An advance above that level would further confirm strength, suggesting that buyers are starting to regain control.
Nonetheless, the downtrend structure remains dominant unless gold triggers a bullish reversal signal above the recent minor swing high of $4,226. The falling 20-day moving average near $4,232 reinforces resistance, but a sustained move above these levels would provide further evidence of improving demand and a potential shift in short-term momentum.