Gold has been climbing aggressively, breaking through multiple resistance levels and recently testing $3,660.

Upside target: If gold gains the same kind of momentum seen in mid-April, when the uptrend accelerated beyond $3,500, prices could extend toward $3,800.
Support levels: The $3,600 and $3,550 zones remain crucial. A decisive break below these could trigger heavy profit-taking, pulling prices back toward $3,450.

With RSI still deep in overbought territory, the market is signaling elevated volatility and the risk of sharp swings in either direction.

 

Looking Ahead

While gold’s long-term narrative remains supportive , underpinned by central bank diversification and macroeconomic uncertainty , the short-term setup is increasingly precarious. With prices near historical highs and speculative flows dominating, traders should be prepared for sharp swings in either direction.