Gold Price Regains Strength After Pullback

• The SPDR Gold Shares (GLD) ETF has regained positive momentum after pulling back 10% from record highs. After about ten trading sessions of sideways consolidation, the metal pushed higher and broke back above its 20-day moving average—a technical level that often hints at renewed buying interest.

• The chart tells a straightforward story: gold dropped sharply in late October, found a floor around $370, moved sideways briefly, then climbed back toward $380. It wasn’t a breakdown—just a healthy reset.

• Breaking above the 20-day moving average suggests momentum is building again. The timing lines up with softer Treasury yields and growing demand for safe-haven assets as macro uncertainty lingers—both tend to lift gold.

• If buyers stay engaged, the next test is likely around $400. But if gold slips back below the moving average, we could see more choppy trading ahead.

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Source: Barchart