Gold futures have bounced from a recent low of $3989.1 and now press into the Weekly VC PMI zone near $4069. The analysis says a sustained close above the 4102–4129 area is required to open a clearer path higher, while the ongoing FOMC meeting adds near-term event risk.
Gold futures are trading near $4077.6 on the 15-minute chart, up modestly on the session after recovering from the recent low of $3989.1.
Gold presses into the Weekly VC PMI zone near $4069
Price is pressing into the Weekly VC PMI zone near $4069 while remaining below the Daily Sell 1 level at $4102 and Daily Sell 2 at $4129. Higher resistance is marked at Weekly Sell 1 ($4150), with the session high noted at $4164.3.
On the downside, the Daily VC PMI mean sits near $4052, with Daily Buy 1 at $4025 and Daily Buy 2 at $3975.
What gold needs for a more durable turn
With price holding above the Daily VC PMI mean and testing the Weekly mean, the short-term structure has improved from the earlier decline. Still, a sustained close above the 4102–4129 area is required to open a clearer path toward Weekly Sell 1 at $4150.
Confirmation of a more durable turn would require price to hold above the Weekly VC PMI near $4069 and generate higher highs. Momentum indicators remain soft, with the MACD near −2.34, and need to begin confirming the move.
FOMC meeting adds event risk
The ongoing two-day FOMC meeting adds near-term event risk, with markets focused on the path of rates into year-end. Elevated real yields and Federal Reserve policy expectations have weighed on prices in recent weeks, contributing to the pullback from earlier 2026 highs.
Fundamentals still support a constructive longer-term backdrop for gold, tempered by those near-term monetary headwinds, the analysis says.
Source: Investing.com
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