Gold witnessed strong gains in recent intraday trading, supported by the emergence of positive signals on the relative strength indicators, indicating an improvement in buying momentum after the relative calm phase. This intraday rise comes after gaining renewed bullish momentum, to reinforce the stability of the bullish movement on a near-term basis.

Gold also gets extra support by its continuous trading above EMA50, which provides renewed bullish momentum, especially with the continuation of minor bullish wave dominance of the short-term basis and its trading alongside supportive trend line for this track, keeping the likelihood of achieving more gains valid in its upcoming trading.