Bears maintained control Thursday, generating a lower daily high of $4,110 and low of $4,039 as early buying ran into immediate resistance near the 10-day average. The failed breakout attempt from yesterday repeated, quickly reversing and pushing price back toward the 20-day average for another test. Since establishing a higher interim swing low at $3,998 on Tuesday—setting up potential for a second leg higher from October’s $3,886 base—gold has shown almost no upside conviction. Rally attempts repeatedly meet supply and fade, keeping the entire structure fragile. The $3,998 low remains the immediate bull-bear pivot. ... (full story)