Gold Analysis: Break Above $4,293 Could Trigger a New High

[cryptobro]

Hi guys!

Gold has been moving inside a clear ascending channel, respecting both its upper and lower boundaries. Recently, we saw a double top formation near the upper trendline, which triggered a corrective move down to the $4,190–$4,200 support zone, an area that has already shown strong buying interest.

After the rebound from this support, the price is now aiming toward the $4,293 resistance.

If the price breaks and holds above $4,293, it’s likely to continue the bullish momentum and head toward a new higher high inside the channel.

Overall, the structure remains bullish as long as the price stays above $4,190, with the next key resistance at $4,293 being the level to watch for a potential continuation of the uptrend.

Gold’s bullish bias remains supported by the ongoing geopolitical tensions, uncertainty over global interest rate paths, and softening U.S. dollar. Investors are also increasingly turning to gold as a safe-haven asset, especially amid concerns about economic slowdown and central bank gold purchases remaining strong.

[alex10]

A sustained breakout above $4,293 may fuel bullish continuation toward the next psychological level.

[Nahid10]

Gold’s price structure shows accumulation — breakout confirmation could ignite institutional buying.