Gold holds steady near the $4,000 level but continues to lack clear directional cues.

Gold prices edged higher on Friday, marking a second attempt to decisively break above key resistance levels at $3986, representing the upper boundary of the triangle pattern, and the psychological barrier at $4000. This comes after Thursday’s spike to $4019, which failed to achieve a daily close above these thresholds.

The metal remains supported by a weaker dollar amid renewed market expectations of a potential Fed rate cut in December. However, this support has not yet translated into a sustained bullish move. In the near term, price action continues to fluctuate around the $4000 level, as traders await a clearer breakout from the triangle and confirmation of a move above this psychological mark.

Mixed daily indicators—showing negative momentum, a rising stochastic, and a neutral RSI—underscore the current indecision, keeping gold confined within a narrow trading range for the second consecutive day.

A weekly close above $3986–$4000 would offer an initial bullish signal, but a firm break above Thursday’s peak at $4019 is needed to confirm momentum and open the way toward higher targets at $4046, the recent range top, and $4075, corresponding to the 38.2% Fibonacci retracement of the $4381–$3986 decline.

On the other hand, a close below Thursday’s low at $3964 would weigh on sentiment, while a drop under the triangle’s lower boundary at $3948 could deteriorate the near-term outlook and expose gold to renewed pressure toward the $3900 support area.

Res: 3955; 3977; 4000; 4020
Sup: 3985; 3964; 3948; 3928