Gold: Will the Rally Resume After the $4,100 Test?

Gold is trading near $4,089 after a rebound from the lower boundary of a short-term descending channel, and the market is now probing a resistance zone around $4,095 to $4,100 where a descending trendline meets the primary moving average. This $4,100 area is described as a key inflection point: a decisive break above $4,100, with a sustained close above the trendline, would confirm the end of the corrective channel and could extend the rally toward $4,180. If gold fails to clear resistance, profit-taking could push it back to retest support inside the channel, particularly near $4,080 and down toward about $3,960. Momentum indicators are nearing overbought levels.