Gold prices rose again on Thursday as technical buying continued after finding support in the $4,000 region.
Having spiked above $5,500 in the early stages of 2026, gold prices have ebbed steadily away, breaking through several key support levels.
However, it appears that gold has now found an equilibrium that is attracting buyers.
“Gold continued its recovery in the latest session, marking a second consecutive gain and advancing to around $4,120per ounce,” said Linh Tran, Market Analyst at XS.com.
“This was not the first time buying interest emerged as prices approached the $3,950–$4,000 area. During several recent pullbacks, gold repeatedly rebounded from this zone, suggesting that the $4,000 level is becoming an increasingly important psychological and technical support area. It also indicates that investors remain willing to buy the metal when prices fall sharply.
“The immediate drivers behind the latest recovery were a relatively weaker U.S. dollar and renewed technical buying following the previous correction. In yesterday’s session, gold briefly climbed to $4,165.87 per ounce, its highest level in around two weeks, as bargain hunters returned and the dollar lost some momentum. The rapid recovery above $4,100 suggests that selling pressure has eased significantly compared with the previous week.”