Currently trading at $4,405, Gold is trading within a rising channel that formed an upward breakout from the early-August base. Price stays above the 50-EMA ($4,332) and the 100-EMA ($4,259), with both providing support to the upward trend. Recent price action has formed consolidation just below $4,430, signaling Gold buying pressure. RSI is resting near 62 which signals bullish pressure without overbought levels.

Price is expected to hit resistance levels around $4,430, $4,477, and $4,516. The first support level is expected around the rising channel support at $4,369, with stronger support expected at $4,306 and $4,224. In my market view, the rising channel support at $4,369 will be a demand level, and a support level above $4,430 could lead to further higher demand at $4,477.

Silver Technical Analysis: XAG/USD Rebounds From Channel Support With $66.50 in Focus