Analyst: The gold price daily chart shows a bullish signal, with moving averages suppressing and bullish momentum engaging in a tug-of-war.

Odaily · 2026-04-01T11:05:59+00:00

RHB Retail Research analyst pointed out that the bullish momentum for NYMEX gold futures is accelerating again, with gold prices rising for three consecutive days, potentially challenging the $4,800/oz resistance level, with initial support at $4,400/oz.

Odaily

2026-04-01 11:05:59

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Odaily Planet Daily News: RHB Retail Research analyst Joseph Chai stated in a report that, according to the daily chart, the bullish momentum of the New York Mercantile Exchange (NYMEX) gold futures may be re-accelerating. The analyst observed that gold prices rose for a third consecutive trading day on Tuesday. Chai indicated that the gold price could challenge the key upside resistance level at $4,800 per ounce. However, he also noted that the current 20-day and 50-day simple moving averages are both trending downward and are forming resistance levels. The initial support level is currently set at $4,400 per ounce. (Jin Shi)

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