Gold Market Weekly Technical Analysis
Published: January 2, 2026
Market Overview
The gold markets have experienced significant volatility as 2025 came to a close, with prices generally trending downward throughout the week. However, the overall sentiment remains bullish as we enter 2026.
Current Price Levels
As of the latest analysis, the focus is on the $4,400 level, which has transitioned from a previous resistance point to a potential support level. This shift indicates a possible stabilization in the market following the New Year’s holiday.
Technical Analysis
The market has shown signs of being stretched, having previously formed an ascending triangle pattern. After breaking out of this formation, the market has pulled back slightly but appears to be finding support within the triangle, suggesting a continuation of the bullish trend.
Given the current momentum, it is advised not to short gold, as the market remains strong. Instead, buying on dips is recommended, as the bullish sentiment is expected to persist.
Long-Term Outlook
Looking ahead, the long-term target based on the triangle pattern suggests a potential price of $4,900. While this target may not be reached immediately, it is anticipated that the market could approach the $5,000 level later in the year, possibly during the summer or fall. The prevailing buyer control indicates that any pullbacks should be viewed as buying opportunities.
Conclusion
In summary, the gold market is positioned for potential growth as it stabilizes around the $4,400 level. Traders are encouraged to remain bullish and consider dips as opportunities to enter the market.