onsgold experienced a sharp sell-off on Wednesday, driven by a rise in U.S. 10-year Treasury yields. It subsequently tested the support levels I had previously identified, ultimately closing the week at $4,165.420—firmly holding above the $4,139 support level. (Note: $4,165.450 was my designated resistance level.)
The key factor to watch this week is whether the price can maintain its position above the $4,139 support level; a drop below this would intensify selling pressure.
On the upside, our resistance levels are $4,179, $4,192, and $4,218, with a final target of $4,233. A move above $4,233 would signal significant strength for spot gold, likely fueling strong buyer appetite.
I will keep you updated should any significant developments arise.
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