Gold rebounds after dip below $4,110; bias stays neutral to bearish
Gold briefly dipped below $4,110 support but recovered, as geopolitical tensions support oil; the technical bias remains neutral to bearish.
Bitcoin's 90-day correlation with gold hit a six-year high, and BTC is 3% away from turning positive against gold for 2026.
Bitcoin's 90-day correlation with gold has reached a six-year high. The cryptocurrency is now only 3% from becoming positive against gold for 2026. The BTC/gold chart shows a series of higher lows since February, and it recently recorded a new peak above 17.9 ounces.
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Gold briefly dipped below $4,110 support but recovered, as geopolitical tensions support oil; the technical bias remains neutral to bearish.
Oil prices rose on Middle East risks, while Japanese and South Korean stocks fell. Gold rebounded towards $4,140.
Gold rose as the dollar eased from an 18-month high, but a break above $4,275 is needed for a sustained recovery, analysts say.
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