Gold rises to its highest level in 3 months

Technical Analysis

By Mostafa Mahmoud On Aug 24, 2026

GOLD

Gold is trading in a medium-term uptrend, opening the door for further price gains and the formation of new highs. However, if the $4,590 support level is broken to the downside, we may target the $4,465 level during today’s trading session.

Support	4590	4465
Resistance	4700	4750

Gold continues to trade near its highest levels in three months after gaining more than 5% last week, supported by renewed concerns over the dollar and the U.S. fiscal outlook following Treasury measures aimed at limiting the rise in long-term borrowing costs. Spot gold traded near $4,627, while the U.S. Dollar Index remained steady around 98.82 points, as silver and platinum posted modest declines, leaving gold among the main beneficiaries of investor demand for hedging assets and stores of value.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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Gold near a 3-month high

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