Short-term and long-term trends for gold prices remain positive, with multiple key confirmation signals. Holding gold continues to be favored in the near future.
Long-term uptrend remains intact
On the weekly chart, gold prices continue to maintain a solid upward structure as they stay close to the upper band of the Bollinger Bands. Notably, after a 5-week technical correction, prices have successfully surpassed the 100% Fibonacci Projection zone (around 4,030–4,250 USD/oz).
Holding firmly above this strong support area signals that the Bulls still retain control of the long-term outlook.
Short-term target: 4,660–4,860 USD/oz
On the daily chart, gold prices are retesting the short-term descending trendline (corresponding to the 4,160–4,250 USD/oz area) while the Stochastic Oscillator continues to rise after generating a buy signal. If this technical indicator continues to improve, the recovery momentum will likely be reinforced in upcoming sessions.
Additionally, if gold prices can decisively close above the 4,250 USD/oz level while the MACD continues to cross above the Signal line and maintains a buy signal, the Triangle pattern will be confirmed. The next potential short-term price target will then move toward the 4,660–4,860 USD/oz region.
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