Gold's pullback may have handed traders the most important entry point of 2026.
Precious metals markets are moving lower at the start of the week.
Junior Gold Miners ETF (GDXJ) still has room for more downside
I think we're in the middle of trying to find the floor in the gold market, but we still have a lot of overhead resistance. Because of this, I expect choppy trading.
Gold managed to meet the target of 4200 early today. As we see from the chart, prices are facing a trading zone between support 4100 and resistance 4200-20.
Gold edges lower as firmer US Dollar caps recovery
Gold Price Forecast: XAU/USD struggles to extend recovery above 20-day EMA
Gold found its footing above $4,000 after June's disappointing US payrolls report triggered broad-based Dollar selling and eased expectations for a near-term Fed rate hike. But the rebound is already losing momentum this week.
Gold and silver showed technical resilience supported by ongoing official accumulation and tight mine supply. Gold rose to $4,153 defending key support while silver held $61.90.
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data