Supported by various positive sentiments, gold awaits a potential breakout
From the latest news perspective, market expectations for a gradual further rate cut by the Federal Reserve have strengthened, the upward momentum of the US dollar has slightly slowed, and continued support from geopolitical hedging sentiment provides a solid foundation for gold prices.
On the daily level, price is steady after retesting the lower level, with strong support at the low of 4254. The RSI indicator remains stable in the neutral zone; bearish strength has gradually eased, while short-term price consolidates to gather momentum around the Bollinger midline. The previous correction was an adjustment within an uptrend, not a trend reversal. The short-term resistance above is at 4315; once it is successfully broken through, new room for upside will open.$XAU
From the latest news perspective, market expectations for a gradual further rate cut by the Federal Reserve have strengthened, the upward momentum of the US dollar has slightly slowed, and continued support from geopolitical hedging sentiment provides a solid foundation for gold prices.
On the daily level, price is steady after retesting the lower level, with strong support at the low of 4254. The RSI indicator remains stable in the neutral zone; bearish strength has gradually eased, while short-term price consolidates to gather momentum around the Bollinger midline. The previous correction was an adjustment within an uptrend, not a trend reversal. The short-term resistance above is at 4315; once it is successfully broken through, new room for upside will open.$XAU
