Comex Gold Signals Uptrend Resumption as Bulls Regain Control

Comex gold futures appear to be resuming their upward trend, supported by strengthening bullish momentum on the daily chart, according to RHB Retail Research analyst Joseph Chai. The shift in sentiment follows gold’s move back above its 20-day simple moving average, a key technical signal that buyers are regaining control.

A decisive break above resistance at $4,600 per ounce would likely accelerate gains toward the $4,800 per ounce level. However, should selling pressure re-emerge, prices could retrace toward support near $4,200 per ounce.

Spot gold was last 0.4% higher at $4,465.07 per ounce, reflecting ongoing demand for the metal.