Gold surges and breaks away from its 200 day MA
The gold buyers raced higher earlier this week, helped by the broader decline in the U.S. dollar. The move carried the price away from its 100-day moving average at $4,391.78 and toward the 200-day moving average at $4,501.13.
Yesterday, gold traded above and below the 200-day moving average as buyers and sellers battled for control. Today, however, the buyers have made a stronger push. With gold currently up around $90 on the day, the price has extended further above the 200-day moving average and has now broken above the 38.2% retracement of the 2026 trading range at $4,573.87.
That breakout gives the buyers more control. The 38.2% retracement at $4,573.87 is now the closest risk-defining level for buyers looking for additional upside momentum. Below that, the 200-day moving average near $4,500 remains another key support level. Staying above those levels keeps the technical bias firmly tilted to the upside.
The next major target comes at the 50% midpoint of the 2026 trading range at $4,768.93. That level takes on added importance because it also corresponds with swing highs from May 7 and May 12, making the area a key technical target should the upside momentum continue.
Bottom line: Buyers are taking greater control. The break above the 200-day moving average and now the 38.2% retracement strengthens the bullish bias. Holding above $4,573.87 keeps the focus on further gains, with $4,768.93 the next major upside target.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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