FX.co ★ Weekly Gold analysis.

Gold price ended last week with price near its weekly highs above $1,850. Since price held above the support at $1,780 and the long-term support trend line, our expectation was for price to continue higher towards $1,855-60 where the Red downward sloping resistance trend line is found.

Green line- support

Gold price has moved above the red resistance trend line. Gold price has closed above price levels it was back in November of 2021. If bulls can manage to hold price above $1,830-50 then price can continue higher. Bulls remain in control of the trend as long as price is above the green trend line.