Chart update gold: Still in the steeper trend channel

The two-year chart shows the orange trend channel that began in early 2024, in which the gold price moved until the last quarter of last year, doubling in the process.

In the middle of 2025, the formation of the green, steeper trend channel began, the upper edge of which the gold price reached two days ago. As in October, this was followed by a significant decline. Currently, the round mark of 5000 US dollars was tested again (which always takes place with significant marks and has not happened so far) was undercut.

Further intact supports are

+ the lower green trend edge

+ the 100-day line, which has stopped a decline several times in the past

+ the 200-day line, which has not been reached at all in the last two years

The price has not even come close to running into the orange trend channel – a future movement in it would also be a merely less steep continuation of the long-term upward impulse.

The trend confirmer shows a steeper increase due to the rising high points and thus the correlate to the green trend channel. The neutral mark of 100 was reached several times and also slightly undercut – however, afterwards it always went back quickly into the region above 100.

An overbought situation is no longer to be noted after yesterday’s consolidation at the Overbought/Oversold indicator. In the past, it usually went up to 1.5, whereupon a decline followed – with currently 0.3, the indicator is in the absolute normal range.

gold300126-GOLDINVEST — *Source: Comdirect*

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