Gold Futures Test 200-Day Average After Three-Month Decline
Gold futures reached an all-time high of $5,600 per ounce in late January before declining. As of May 28, 2026, the price tested the 200-day exponential moving average without reaching the February low of $4,100.
thehindubusinessline.comGold futures reached an all-time high of $5,600 per ounce in late January 2026 before entering a correction that has lasted more than three months. The price fell to $4,402 in early February, recovered to $5,419 by early March, and then dropped to $4,100 during a second sell-off.
Gold found support near the yearly open and around the 200-day exponential moving average. The price has remained above that level since the second decline. As of May 28, 2026, futures tested the 200-day exponential moving average again but did not reach the prior low of $4,100. The price is attempting to move above the $4,900 resistance level.
U.S. Dollar Index have historically moved in opposite directions. The article notes this relationship as a variable that can influence future price direction.
Key Facts
Story Timeline
4 events- Late January 2026
Gold futures reached an all-time high of $5,600 per ounce.
1 sourceBenzinga - Early February 2026
Price dropped to $4,402.
1 sourceBenzinga - Early March 2026
Price recovered to $5,419.
1 sourceBenzinga - May 28, 2026
Futures tested the 200-day EMA without reaching the $4,100 low.
1 sourceBenzinga
Potential Impact
- 01
Traders may watch whether price sustains above the 200-day EMA.
- 02
Movements in the U.S. Dollar Index could affect gold price direction.
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