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Gold Jumps and Holds—Are Bulls Targeting Fresh Highs?

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Aayush Jindal

Key Highlights

  • Gold started a fresh surge above the $4,200 resistance.
  • The bulls could now aim for a move above $4,365.
  • WTI Crude Oil prices remained in the red zone and declined below $58.00.
  • EUR/USD is holding gains and might climb above 1.1800.

Gold Price Technical Analysis

Gold prices started a fresh surge above $4,200 and $4,220 against the US Dollar. It settled above $4,300 to enter a bullish zone.

The 4-hour chart of XAU/USD indicates that the price cleared a key contracting triangle with resistance at $4,230 to enter a positive zone. The bulls even pumped the price above $4,320. The price tested $4,350 before there was a consolidation phase.

On the upside, immediate resistance is near the $4,350 level. The next major resistance sits near the $4,365 level. A clear move above $4,365 could open the doors for more upside. In the stated case, the bulls could aim for a move toward $4,400.

If there is a pullback, Gold might find bids near the $4,300 level. The first major support sits at $4,285, below which the price might slide to $4,265.

The main support sits at $4,250. Any more losses might call for a test of the 100 Simple Moving Average (red, 4 hours) or even the 200 Simple Moving Average (green, 4 hours).

Looking at WTI Crude Oil, the price attempted a decent recovery wave, but the bears remained active below the $60.00 level.

Economic Releases to Watch Today

  • US nonfarm payrolls for Nov 2025 – Forecast 40K, versus 119K previous.
  • US Unemployment Rate for Nov 2025 - Forecast 4.4%, versus 4.4% previous.
  • US Retail Sales for Oct 2025 (MoM) – Forecast +0.2%, versus +0.2% previous.
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