According to Societe Generale analysts, gold has successfully defended the interim support zone at $3,930/3,885, which corresponds to the low of November 2025, and has since staged a swift rebound [1]. The price is now approaching a descending trend line that has been in place since March, currently situated near $4,300 [1]. Despite this rebound, Societe Generale notes that there are no clear signals of a large bounce at this stage [1].
The analysts highlight that the confluence of the 50-day moving average (DMA) and 200-DMA, located around $4,380/4,480, may act as a significant hurdle for further upward movement [1]. They emphasize the importance of monitoring whether gold can establish a base and gradually attempt a reversal from current levels [1].
No specific market reactions or analyst forecasts beyond these technical observations are provided in the source article [1].
CONCLUSION
Gold has rebounded from key support levels but faces significant resistance ahead, according to Societe Generale. The market is watching closely to see if gold can establish a base and attempt a sustained reversal, with major moving averages presenting a potential barrier.