The move follows a confirmed upside breakout from a symmetrical triangle formation on lower timeframes, reinforcing bullish momentum that has been building throughout February. With safe-haven flows accelerating, traders are now reassessing the near-term gold price forecast and whether fresh record highs are within reach.
Technical Breakout Confirms Bullish Momentum
Recent gold technical analysis shows that the price cleared a well-defined consolidation zone between $5,200 and $5,240 before pushing toward the $5,300 psychological barrier. On shorter timeframes, analysts highlighted a symmetrical triangle breakout, while the four-hour structure reflects an ascending channel marked by higher highs and higher lows.
The 30-minute XAU/USD chart confirms an upside breakout from a symmetrical triangle near $2,729, signaling potential for continued bullish momentum in gold prices. Source: Captain Faibik via X
Technical analyst Captain Faibik noted that the breakout confirms continuation of the prevailing uptrend, pointing toward measured move targets near $5,360 and $5,400. Momentum indicators also support the advance. The Relative Strength Index (RSI) remains elevated but not extreme, suggesting room for further expansion. Meanwhile, moving averages remain in bullish alignment, reinforcing the positive gold price structure.
Key gold price resistance levels now sit around $5,300 and $5,400. On the downside, former consolidation zones near $5,240 and $5,200 act as initial gold price support levels. As long as the price holds above the breakout point, the technical bias remains constructive.
No Breakthrough in Geneva Keeps Risk Premium Elevated
The geopolitical backdrop continues to shape the gold price movement today. The third round of indirect US-Iran nuclear talks in Geneva ended without meaningful progress. Washington has increased military deployments in the region, while a US advisory in Israel has intensified concerns about potential escalation.
Following unsuccessful negotiations in Geneva, the US and Israel initiated pre-emptive strikes against Iran, citing efforts to neutralize emerging security threats. Source: @GUnderground_TV via X
Iranian Foreign Minister Abbas Araghchi described the talks as “good,” adding, “These were the most serious and longest talks,” and confirmed that further technical discussions are scheduled in Vienna next week. However, markets appear focused on the absence of a tangible agreement.
The possibility of military action remains a key driver behind renewed safe-haven demand. Analysts note that unresolved negotiations, combined with the deployment of additional US naval assets, have embedded a geopolitical premium into the gold spot price.
Gold and Geopolitical Risk: A Safe-Haven Asset in a Fragile Macro Environment
The current rally underscores gold’s role as a safe-haven asset during periods of uncertainty. Beyond Middle East tensions, broader macro concerns are also shaping the gold macro outlook.
XAU/USD H4 structure remains bullish after a liquidity sweep, with targets at $5,300–$5,400 and a potential move toward a new ATH above $5,600. Source: TradingView
Recent US trade policy developments, including a fresh 10% global tariff and legal challenges to previous emergency trade measures, have added another layer of unpredictability. At the same time, US Treasury yields have slipped below 4%, while the US dollar has softened. A weaker dollar typically supports the gold price and the US dollar inverse relationship, lowering the cost of holding non-yielding bullion.
Fading expectations for aggressive rate cuts have created a mixed backdrop for gold and interest rates, but declining yields have offset some of that pressure. In addition, steady central bank gold buying, solid gold ETF inflows, and resilient gold institutional buying continue to underpin the broader gold market outlook.
With the metal on track for a seventh consecutive monthly gain, structural demand remains intact. Central banks have consistently expanded gold central bank reserves, reinforcing long-term support even during periods of consolidation.
Short-Term Gold Price Outlook and Key Levels to Watch
In the near term, the market may pause as it approaches overhead resistance. A sustained hourly or daily close above $5,300 would likely confirm the next impulsive leg higher, opening the path toward $5,360 and potentially $5,400. Beyond that, attention turns to the January peak above $5,600.
Gold targets are set at $5,300 as the immediate resistance, followed by $5,360 with possible minor consolidation, and $5,400 as the measured move expansion target. Source: melikatrader94 on TradingView
However, volatility could increase around upcoming US inflation data and producer price figures. Such releases often influence the gold price and Fed policy narrative, particularly if they alter expectations around rate cuts or economic slowdown risks.
From a tactical perspective, the gold price forecast short-term remains positive as long as XAU/USD holds above the $5,240 breakout level. A move back below $5,200 would signal renewed consolidation rather than immediate reversal, given the broader bullish structure.
For investors asking, “Where is gold price heading?” the answer appears rooted in both charts and macro forces. Technical breakouts have aligned with rising geopolitical tension and supportive demand dynamics. While risks remain, the current gold price outlook suggests that dips are likely to attract interest as long as uncertainty persists.
As markets continue to monitor US-Iran developments and macro data, gold’s dual identity, as both a tactical trading vehicle and a strategic hedge, remains firmly in focus.
SPDR Gold Shares ETF (GLD) Technical Analysis Summary
SPDR Gold Shares (ticker GLD) displays a strong technical rating on TradingView as of February 28, 2026, with the ETF closing at $483.75. Both 1-week and 1-month outlooks remain firmly in the same direction, indicating a sustained upward price structure in the gold ETF.
$GLD was trading at around $483.75, up 1.31% in the last 24 hours at press time. Source: TradingView
All major moving averages remain positioned below current price levels, including EMA 10 at $471.48, EMA 50 at $441.84, and EMA 200 at $374.05. Short-term averages form a tight cluster immediately below the current price, creating a zone of dynamic support. The complete absence of opposing signals across the moving-average stack underscores the established longer-term trend in GLD and gold-related instruments.
Oscillators indicate continuing positive momentum without reaching extreme levels. RSI (14) reads 61.16 (neutral zone), MACD displays ongoing expansion, ADX at 24.46 reflects a strengthening trend, and Ultimate Oscillator at 75.68 points to elevated buying pressure. With no opposing signals present and considerable distance remaining before classic extreme territory, the technical framework supports potential continuation of the prevailing direction in GLD, with key levels to monitor near $490–$504 on the upside and $460–$450 on any retracement within this gold market environment.