Gold: Will the Rally Resume After the $4,100 Test?

Gold’s () four-hour chart shows the precious metal trading near $4,089 after staging a strong rebound from the lower boundary of its short-term descending channel. The price is now testing a key technical resistance zone where the descending trendline converges with the primary moving average around $4,095–$4,100. This area represents a critical inflection point that will likely determine whether the current recovery extends or selling pressure returns. Meanwhile, momentum indicators are approaching overbought territory, suggesting that market volatility could increase during the upcoming trading sessions.
  
On the upside, a decisive breakout above the $4,100 level and a sustained close above the descending trendline would confirm the end of the corrective channel, paving the way for an extended rally toward the $4,180 region, which represents the primary bullish target highlighted on the chart. However, if fails to overcome this key resistance, the market is likely to see a round of profit-taking that could drive prices back to retest support levels within the descending channel, particularly as buyers continue to face strong technical resistance following the recent rebound.

Overall, the short-term outlook remains cautiously bullish, provided that the current resistance is successfully breached. The alternative scenario remains valid if Gold (XAU/USD) loses momentum and falls back below $4,080, a move that could accelerate selling pressure toward the lower boundary of the channel near $3,960. Therefore, price action around the $4,095–$4,100 zone will be the key factor in determining the next directional move. A sustained break above this area would strengthen the case for a continuation of the uptrend, while a technical rejection would shift the focus back to a corrective decline.

Support: $4,080 – $4,060 – $4,003
Resistance: $4,100 – $4,120 – $4,180

investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions. ” src=”https://media.investing.com/images/c90edac0d3e7a61a1c977e7a7f9368d4_20260731025608.jpg” alt=”31.07.2026 – Gold – XAUUSD – Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform. Disclaimer: The chart reflects the analyst’s opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions. ” width=”474″ border=”0″/>