Gold’s 15% rebound from $4,405 is losing steam as prices stall below key $5,170 resistance. The usual inverse correlation with the US dollar has weakened, while the Shanghai gold premium has flipped into discount, signalling softer physical demand. Bearish RSI divergence raises the risk of a pullback toward $4,795–$4,703 unless bulls reclaim momentum above $5,170.
12-02-2026 10:49 GMT
by Kelvin Wong