Gold smashes a new all-time high at $4,690/oz, up 73% YoY, as escalating geopolitical tensions and aggressive central bank buying fuel intense safe-haven demand. Momentum remains bullish, but RSI near 72 signals overbought conditions with upside momentum starting to slow.
With expectations of Fed rate cuts in 2026 and growing concerns over trade-driven inflation and sovereign debt, gold continues to outperform risk assets. Support lies at $4,570–$4,590, while a clean break above $4,700 could open the door toward $4,800–$5,000, though short-term consolidation remains likely.
