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Gold Nears 4640 Resistance on Bullish Momentum

Bullish momentum continues as markets await key US data

Gold prices rose during March 31, 2026, reaching 4619.10 and approaching the key resistance zone between 4560–4640 identified in the morning analysis. This confirms the bullish scenario so far, with price continuing to trade within a short-term ascending channel supported by positive MACD momentum.

Gold is now facing a critical level at 4640. A breakout could push prices toward 4700, while failure may trigger a correction toward 4500, especially with signs of potential overbought conditions.

Upcoming Economic Events & Impact:

Markets are awaiting important U.S. data in the coming days, which could directly affect gold movements:

Wednesday – April 1, 2026:

• 16:15 (Gulf time): ADP Employment (42K vs 63K) → weaker data may pressure USD and support gold.
• 16:30: Retail Sales (0.4%) & Core (0.3%) → strong data may support USD and limit gold gains.
• 17:45 & 18:00: PMI & ISM (52.4 / 52.3) → continued growth may boost USD.
• 18:30: Crude Oil Inventories → may increase volatility in commodities.

Thursday – April 2, 2026:

• 16:30: Jobless Claims (212K) → limited impact.
• 00:30: Fed Balance Sheet (6,657B) → changes may affect liquidity and USD.

Friday – April 3, 2026:

• 16:30: Average Earnings (0.3%) → weaker data may support gold.
• 16:30: Nonfarm Payrolls (56K) & Unemployment (4.4%) → stronger data may support USD.
• 17:45: Services PMI (51.1) → stable economic activity.

Overall, gold remains in an uptrend, but the next move will depend on breaking resistance and incoming US economic data, which may increase volatility in the near term.

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