are trading near $4,482, maintaining a constructive bullish posture after rebounding sharply from the recent $4,365.50 low. The recovery has carried price back above both the VC PMI Weekly Mean at $4,437 and the VC PMI Daily Mean near $4,461, shifting the short-term bias toward the sell-side targets.
VC PMI Price Structure
The immediate upside objective is Daily Sell 1 at $4,500, which converges closely with Weekly Sell 1 at $4,509. This $4,500–$4,509 area represents the principal resistance and profit-taking zone. A confirmed breakout above $4,509 would strengthen momentum toward Daily Sell 2 at $4,526, followed by the major Weekly Sell 2 objective at $4,581.
The chart’s previous $4,509.10 high reinforces the importance of this resistance cluster. Conversely, failure to sustain the Daily Mean would expose Daily Buy 1 at $4,435, essentially overlapping the $4,437 weekly mean. Below this support cluster, Daily Buy 2 at $4,396 and Weekly Buy 1 at $4,365 become the principal downside objectives. Weekly Buy 2 remains considerably lower at $4,293.
Cycle Dates & Square of 9
From a cycle perspective, the rebound from $4,365.50 appears to represent an important short-term cyclical low. The market has transitioned from contraction into an advancing phase, with the next several sessions potentially determining whether the move develops into another acceleration phase. Traders should monitor approximately 30-, 60-, 90-, 180- and 360-degree time/price relationships from significant swing highs and lows.
Square of 9 analysis places special emphasis on the $4,500–$4,526 region. Its convergence with VC PMI resistance increases the probability of volatility, consolidation, or a breakout decision near these levels. A sustained close through this zone could open the rotational path toward $4,581.
Fundamentals
Gold is receiving fundamental support from a weaker U.S. dollar and declining expectations for another Federal Reserve . Reuters reported Monday that December futures advanced as softer employment, inflation and consumer data reduced expectations for additional Fed tightening. Markets are now focused on the July FOMC minutes for additional policy direction.
The dollar has also weakened as investors reassess the interest-rate outlook, while geopolitical tensions surrounding Iran and the Strait of Hormuz continue to provide an underlying safe-haven bid.
Outlook
The VC PMI bias remains bullish above $4,461 and particularly $4,437. The immediate test is $4,500–$4,509. Acceptance above that resistance favors $4,526 and ultimately $4,581. A rejection would place $4,461/$4,437 back in focus as critical support.
Disclosure: This analysis is educational and informational only and does not constitute investment advice or a solicitation to buy or sell futures, options, securities, or commodities. Futures trading involves substantial risk of loss and may not be suitable for all investors. VC PMI, cycle and Square of 9 projections are probabilistic analytical tools; no price target or cycle date is guaranteed. Past performance does not guarantee future results.