Gold Price Eyes $4,500 After Strong Rebound and Renewed Fund Inflows

Additionally, buyers have become more aggressive on the buy side since the metal dipped off its previous level.

In the bigger picture, gold is seen breaking above a prior downtrend channel area, while simultaneously retesting a previous downtrend area on the daily chart. Fund flows also come into the picture, and gold funds are back in positive flows. The charts collectively highlight price action, technical support, and investor flows in the current gold setup.

Gold Price Tests $4,435 Resistance

Gold is trading at around $4,435 on James Stanley’s chart, which had rallied back from its early August trading price. Price broke out of the $4,305.97 area and hit the resistance level near $4,435.

For three straight sessions, $4,435 had been attracting selling, Stanley said. The level is the first resistance seen before the psychological $4,500 area. The chart reveals that several candles merge together beneath $4,435 instead of rising straight upwards.

The latest move is coming on the back of a positive response in support during Friday’s session. Buyers bought the retracement following a $4,305 high, and that buying flowed through the weekly open. Recent candles are still extending above the green dashed support line at $4,305.97.

There is another support trend around $4,166 to $4,195 below this level on Stanley’s chart. This area was previously a resistance before the breakout in August. A crucial support level seems to be around $4,023.84, while the psychological $4,000 level seems to be providing support.

The chart is thus sandwiched between well-defined levels.

The chart reveals $4,500 only after Price has made a move to $4,435. In the meantime, the next price level of interest to watch is $4,305, which is the next price level that is currently being traded below.

Daily Gold Chart Shows a Retest Setup

The daily chart of XAUUSD painted by MarketMaestro reveals a pullback from a long bearish trend that has been prevalent throughout the year. The lower highs from the previous high are joined by a descending trendline that stretches to the August trading area.

Gold has now broken above its shorter time frame moving averages, following several weeks of trading in a wide-demand area. The chart indicates that the region of support surrounds the lows that formed in June, July, and early August.

Recent candles subsequently rallied and progressed up through the descending pattern. Since then, the price has eased off the local peak and established the retest position of the base. The pullback is still in the larger green support zone on the daily timeframe.

Also, the price chart’s momentum indicators improved in the August rally. As the price moved away from the base, the histogram moved from negative readings to positive readings.

The daily setup is in line with Stanley’s levels.

Gold is back from below support, but local resistance is holding back the latest run-up. This new retest is located between the previous downtrend and the local recent high. This new retest is in the middle of the previous downtrend and the recent local high.

Gold Fund Flows Turn to Positive Territory

Meanwhile, another chart shows the four-week average flows into gold funds as a result of EPFR data from Goldman Sachs Global Investment Research. Recently, there has been a significant increase in fund flows.

It went negative by $3 billion in the second quarter but bounced back. In August, the 4-week average was up to nearly $2 billion in positive flows. The shift reflects an end to a trend of outflows seen in March through June. The chart also highlights previous strong inflows of $3 billion to $4 billion in late 2025 and early 2026.

The recent recovery in flows has been aligned with gold’s recovery from the recent technical bottom. In addition, sharing the fund-flow chart, ISABELNET highlighted the return of retail demand for ETFs and continued purchases by the central banks.

The price is currently in the resistance zone on the technical charts, and fund flows are reversing from negative to positive. The three charts show $4,435 and $4,500 above it; $4,305 is the closest support level.