I noticed that gold regained its strength last week and managed to stabilize above $4,700, which is a critical level that served as strong resistance a few weeks ago. Now it has turned into a key support, which is a positive sign in the short term.

The supporting factors are clear: the dollar is weak, and inflation is easing with falling energy prices. Additionally, markets are beginning to bet on the possibility of a US interest rate cut in the second half of the year, especially if upcoming US employment data show genuine slowdown. All of this favors today’s positive gold analysis.

From a technical perspective, indicators support the continuation of the upward trend. The MACD is in a positive signal, and the RSI is around 58 (there is still room to rise before reaching overbought levels). But attention should be paid: if $4,700 is broken and closed below, we might see a pullback toward $4,600 or even $4,500.

Current levels: support at $4,600 and $4,500, resistance at $4,800 and $4,900. Most forecasts suggest a range of 4,680-4,800 in the coming days, with a potential target of $4,850 if negative economic surprises occur.

The main variable now is the employment report and any new developments in geopolitical negotiations. So far, the outlook is supportive for gold, but caution regarding unexpected news is essential.