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Gold prices were rejected at the 200-day moving average of $4,484 an ounce on Wednesday, closing at $4,363, despite a 6.3% rally over the past month.
The precious metal's recent rebound has been driven by fading expectations of further Fed tightening following weaker US labor market data, alongside continued central bank diversification away from US Treasuries and geopolitical uncertainty supporting safe-haven demand. Gold prices remain about 22% below their all-time high of $5,602 per ounce set on Jan. 28, 2026.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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