Gold Holds Strong Near Key Resistance Level

Gold finished the session with strong momentum. The price closed around 5110 and moved back into the 5080 to 5120 area, which has acted as resistance before. Earlier this week, gold respected the rising support trendline near the 4900 to 4950 zone and bounced from there, showing buyers are still active.

Now the market is closed, and gold is sitting just below an important supply area. This means sellers could step in around this level. If price breaks clearly above 5120 in the next session, it would likely confirm that the upward move is continuing. However, if gold fails to move higher and gets rejected from this zone, we could see some short term sideways movement or consolidation before the next big move.

All eyes will be on how price reacts when the market reopens, as this level could decide the next direction for gold.

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