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Evening update for gold-05-08-2026
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Evening update for gold-05-08-2026
Aug 5, 2026 12:40 PM

Gold extended its strong gains during the latest intraday trading session, successfully breaking above the $4,200 resistance level, which was our final upside target in previous analysis, supported by a short-term bullish corrective trend, while continuing to trade above EMA50.with the continuation of the positive signals from the relative strength indicator, despite reaching overbought levels, besides the big volume of the bullish momentum, which reinforces the chances of extending these gains in the near upcoming period.

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