Looking at the charts, Gold’s recovery is entering its third week, but the momentum is visibly waning. The price is oscillating within a tight range, finding immediate support at the $4,700 psychological level.
While the 100-period SMA (blue) has transitioned from resistance to dynamic support near $4,606, the upside remains capped by the descending 200-period SMA (orange) currently hovering around $4,870.
The RSI sits neutrally at 51.84, confirming a lack of directional momentum. Bulls need a decisive break above the recent swing high at $4,804 to challenge the $4,870 SMA and the elusive $5,000 handle. Conversely, a breach of the $4,700 support could see a swift retracement toward the $4,600 confluence zone.
Key Levels to Watch:
Resistance: $4,804, $4,870, $5,000
Support: $4,700, $4,606, $4,500
Gold (XAU/USD) One-Hour Chart, April 13, 2026