Gold Surges Over 2% After Interest Rate Hold as Buyers Defend Key Support Zone

Gold prices rallied strongly during today’s session, gaining more than 2% after the decision to keep interest rates unchanged, while buyers aggressively defended the major support zone near $4,500.

From a technical perspective, the market reacted sharply after touching the support area, where strong buying pressure pushed gold higher toward the $4,640 resistance zone. The recent rebound also confirms that the medium-term bullish structure is still holding despite the previous corrective decline.

On the 30-minute timeframe, gold managed to break out from the short-term bearish pressure that dominated recent sessions. Price action is now showing renewed momentum after reclaiming important intraday resistance levels, which may now act as fresh support if buyers maintain control above the $4,570 area.

Fundamentally, holding interest rates steady gave the market temporary relief, especially as investors continue watching inflation risks and slowing economic expectations. In this environment, gold remains attractive as a defensive asset, particularly with ongoing geopolitical uncertainty and concerns surrounding global economic stability.

At the same time, traders remain cautious. Any hawkish comments from central banks or unexpected economic data could quickly increase volatility across both the dollar and precious metals markets.

For now, gold appears to be regaining confidence after successfully defending a critical technical zone, while the market continues searching for direction between monetary policy expectations and safe-haven demand.

Prepared by:
Motasm Adel
Senior Market Analyst – OneRoyal

Risk Disclaimer:
Trading involves a high level of risk and may not be suitable for all investors. The information provided is for educational and analytical purposes only and does not constitute investment advice.