Gold is trading above $4,150 per ounce and showing signs of strength after holding a steady uptrend in recent sessions. The move has been supported by a weakening US dollar and growing market confidence that the Federal Reserve could begin cutting rates as early as December.
Attention is turning to the $4,200 to $4,210 range, which has acted as a ceiling for several months. That level is now being tested again, and the momentum behind the move is stronger than in previous attempts.
Technical models are increasingly pointing to upside levels that had previously been dismissed as too aggressive. Based on long-term chart patterns, projections now include scenarios where gold moves toward $5,000 and, in more extended cases, above $5,500. At the same time, gold’s downside risk appears manageable. The metal has held above $3,900, with deeper support zones reaching as low as $3,300. This wide buffer gives investors confidence to add exposure without chasing short-term price moves.
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