Gold Set to Rebound Further Toward $4,500 an Ounce, Daily Chart Shows

Gold is set up to rebound further toward a key resistance level at $4,500 per ounce, according to Quek Ser Leang of UOB Global Economics & Markets Research. In a technical note, he pointed to the daily chart signal where the daily moving average convergence divergence (MACD) indicator is trending steadily higher. That momentum, combined with the approach toward the stated resistance, suggests prices could regain upward traction in the near term. The call focuses on chart behavior rather than a specific catalyst tied to economic data or geopolitical developments, highlighting resistance at $4,500 as the next benchmark for traders.