The battle to regain the 4,500 USD/ounce mark for gold prices in the short term is temporarily leaning towards the selling side. Although buyers have repeatedly made efforts to bring prices closer to the upper resistance zone of the parallel price channel, the failure to break through successfully has created an opportunity for selling pressure to return stronger.
What investors are concerned about at this time is whether the current weakening momentum signals that the medium-term trend of gold has reversed or not.
According to technical assessment, the answer is still no. Price movements show that gold is still in a sideways accumulation state, with cautious sentiment and lack of decisiveness from both buyers and sellers.
The possibility of gold retreating to the bottom of the price channel is still open, especially if momentum continues to weaken below the supporting trend line on the daily chart. In this scenario, the bottom of March 2026 around 4,100 USD/ounce may become the next important support level.
However, many experts believe that if gold returns to this price range, this may be a more attractive accumulation opportunity than a signal that the long-term uptrend has ended.
On the weekly chart, the precious metal is still receiving support from the 50-week moving average, while momentum indicators continue to be maintained at a low level. This shows that the deep decline room may no longer be too large if macroeconomic factors do not change significantly.
In the opposite direction, silver is starting to send more noteworthy signals. The gold/silver ratio (Gold-Silver Ratio) is showing the possibility of reversal when the daily chart shows a reversal candlestick pattern along with weakening momentum signals.
If this trend is confirmed by a closing session below the important resistance zone in the coming days, silver may have better room to increase in price than gold in the medium term.
Although the short-term outlook for gold still has many fluctuations, most experts believe that the sideways and disappointing trading periods as they are now are common developments after strong uptrend cycles.
The market needs time to absorb profit-taking pressure, rebalance positions and stabilize investor sentiment before forming a new trend.
Therefore, although gold cannot soon return to the historical peak, the fundamental factors supporting the long-term upward trend are still assessed as not broken. Deep corrections, if they appear, continue to be seen by many investors as an opportunity to accumulate rather than a signal of retreating from the market.
