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Gold Breaks Above $4,200 as Fed Cut Bets Fuel Momentum — Can the Rally Reach New Highs?
Traders' Opinions
Summary:
Gold prices surged past $4,200 on Thursday, extending a five-day winning streak as expectations for a December Fed rate cut and a weaker U.S. Dollar fuel bullish sentim
Buy
CLOSEDXAUUSD
End Time
4204.09
Entry Price
4381.00
TP
4180.00
SL
4091.60 -79.73 -1.91%
2409
Points
Loss
4180.00
SL
4179.81
CLOSING
4204.09
Entry Price
4381.00
TP
Gold (XAU/USD) extended its impressive advance on Thursday, climbing decisively above the $4,200 psychological threshold and marking its fifth consecutive daily gain. The precious metal, often viewed as the ultimate safe-haven asset, has now recovered nearly all the ground lost during its recent corrective pullback from the record high of $4,381 set earlier this year. At the time of writing, gold trades near $4,235 per ounce, up more than 5.5% for the week, with its bullish momentum showing few signs of fatigue.
The renewed strength in gold comes against a backdrop of improving risk sentiment in global markets following the U.S. government’s decision to end its historic shutdown. While the resolution was initially expected to dampen demand for safe-haven assets, it has done little to slow gold’s ascent. Instead, traders have shifted their attention toward a wave of delayed U.S. economic data releases — reports that could heavily influence the Federal Reserve’s policy trajectory heading into year-end.
The market narrative continues to be dominated by growing speculation that the Federal Reserve will deliver another rate cut in December. Recent statements from key policymakers have suggested a willingness to provide further accommodation should economic momentum falter under the weight of high borrowing costs. The anticipated rate cut has pressured the U.S. Dollar, pushing it lower across the board, while simultaneously keeping Treasury yields subdued.
For gold, this combination of a weaker dollar and lower yields is a potent cocktail. As a non-yielding asset, gold tends to benefit when real returns on U.S. bonds decline, making it relatively more attractive to investors seeking stability and long-term value preservation. The latest move above $4,200 reflects not only technical strength but also deepening market conviction that the Fed’s tightening cycle is effectively over.
Beyond monetary policy, broader macroeconomic trends continue to favor gold. Persistent geopolitical uncertainty — from ongoing trade disputes to the fragility of global growth — remains a key driver of demand. Moreover, with inflation expectations still elevated and the U.S. fiscal picture deteriorating due to prolonged government spending, many investors are seeking protection from potential currency debasement and policy missteps.
The upcoming wave of U.S. economic reports — including retail sales, CPI, and labor market data — will be crucial in determining whether the Fed’s dovish tilt gains further traction. Any sign of economic cooling is likely to reinforce the case for rate cuts, potentially setting the stage for another leg higher in gold.
Technical Analysis 
From a technical perspective, gold’s price action continues to exhibit remarkable strength. The metal has maintained its position above the 50-day Exponential Moving Average (EMA50), a key dynamic support zone that has underpinned the broader bullish structure since mid-year. The short-term trend remains decisively upward, supported by a minor bullish wave pattern visible on intraday charts.
Momentum indicators such as the Relative Strength Index (RSI) remain in overbought territory, yet they continue to flash positive signals — a reflection of sustained buying interest rather than exhaustion. Traders should, however, keep a close eye on the immediate support zone around the $4,220–$4,200 area. A firm hold above this range will likely confirm the continuation of the bullish trend, paving the way for a retest of the $4,300–$4,381 resistance zone — and potentially, a fresh all-time high.
Conversely, a decisive break below $4,200 could trigger a brief technical correction, but given the current macro setup, any dip is likely to be viewed as a buying opportunity rather than a reversal signal.
TRADE RECOMMENDATION
BUY GOLD
ENTRY PRICE: 4210
STOP LOSS: 4180
TAKE PROFIT: 4381
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