Gold – Fresh Bullish Momentum Accelerates, Breaks Through Key Resistance Zone

Gold surged higher on Friday, breaking decisively above the upper boundary of a triangle pattern on the daily chart at $3327, and pushing through the next major resistance at $3350 — a key confluence of the 50% Fibonacci retracement of the $3452–$3245 decline and the daily Kijun-sen.

The rally, which began after a double rejection at the daily Ichimoku cloud top and key psychological support at $3300, has extended into its third straight session. Momentum gained further strength on Friday following President Trump’s surprise announcement of new tariffs on Canadian imports and fresh threats toward other trade partners, which fueled demand for safe-haven assets like gold.

The technical outlook on the daily chart is improving, with moving averages turning bullish and the 14-day momentum indicator approaching the zero line, signaling growing upside potential. A sustained break above the $3350–$3365 resistance zone would confirm the bullish reversal and open the way toward $3373 (61.8% Fibonacci retracement) and the psychological $3400 level.

Immediate support is seen at $3341 (rising hourly Tenkan-sen), with stronger footing expected at $3331 (hourly base and Kijun-sen). Dips toward these levels are likely to attract renewed buying and keep the bullish bias intact.

Res: 3365; 3373; 3392; 3400
Sup: 3350; 3341; 3331; 3325