Technical Outlook for Gold: Price Around $5,375 Amid Rising U.S.–Iran Tensions, Will It Reach New All-Time Highs?

The four-hour chart for the gold–dollar pair (XAU/USD) shows a clear uptrend, supported by a series of higher highs and higher lows, reflecting sustained short-term bullish momentum. The price is currently trading near $5,370 after a strong surge that broke through the previous consolidation range around $5,200–$5,250, confirming this zone as a key support. The upward-moving moving average (shown in white) further supports the trend, as the price remains comfortably above it, indicating buyers are in control.

In terms of momentum, the Stochastic indicator shows a slight pullback from overbought levels, suggesting a possible limited correction or short-term sideways movement before resuming the uptrend. As long as the price stays above $5,300, the bullish scenario remains likely, with a potential retest of the recent high near $5,420. A sustained breakout above this level could open the way toward $5,550 and $5,600, especially if buying momentum continues.

Conversely, a break below $5,300 could push the price to test support at $5,250 and then the more critical zone around $5,118, representing a clear horizontal support on the chart. Breaching this level could trigger a deeper correction toward $4,970–$4,950 near the moving average. Nevertheless, the overall trend on the four-hour chart remains bullish unless $4,900 is decisively broken.

Resistance Levels: $5,420 – $5,550 – $5,600

Support Levels: $5,300 – $5,118 – $4,970.