Gold Weekly Price Outlook – Gold Falls for the Week

Gold Markets Weekly Technical Analysis

As we are rolling into 2026, we are now focused firmly on the $4,400 level. This is an area that has previously been resistance and it is now starting to try to act as support on Friday. So it looks like this week is at least going to see some stability after the New Year’s holiday.

Nonetheless, we have to look at this as a market that is a bit stretched. I would point out that we had been in an ascending triangle previously, we had broken out above it, and we have pulled back into that triangle a bit. It looks like it is in fact, supporting the market.

Regardless, the easiest thing to say on this chart is that you shouldn’t be short of Gold. It’s just far too strong a market. I don’t think that changes anytime soon, and therefore, I like the idea of buying dips and have no real interest in shorting with this kind of momentum still prevalent.

Bullish Long-Term Targets

Longer term, based on the triangle at the very least, we should be looking at $4,900. I don’t think that’s a huge surprise if we get there. I think the market is pretty hell-bent on trying to get to the $5,000 level.

That doesn’t mean it happens overnight. That could be a summertime thing. It could even be a fall thing. But the reality is that I do think the buyers are still very much in control here. As long as that’s the case, I suspect that you have to look at each and every pullback as a potential buying opportunity.

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