🔍 Fundamental Overview
Gold enters the week consolidating near record highs, supported by dovish Fed policy, geopolitical tensions, and strong central bank demand. The recent Fed rate cut and cautious forward guidance have tempered the rally, but the underlying bullish case remains intact.
🇺🇸 United States:
• Fed Rate Outlook: 25bps cut delivered; Powell signals measured pace for future easing.
• Labor Market: Weak job data continues to support safe-haven flows.
• Bond Yields: Falling yields enhance gold’s appeal.
• Dollar Sentiment: Slight rebound, but still under pressure.
🌍 Global Factors:
• Geopolitical Risks: Elevated tensions in Asia and the Middle East.
• Central Bank Demand: China’s gold imports surged 254% in August.
• Inflation Hedge: Persistent stagflation concerns support long-term gold demand.

📊 Technical Analysis
Support Levels:
• 3,612 – short-term pivot
• 3,508 – trendline support
• 3,440 – deeper correction zone
Resistance Levels:
• 3,674 – swing high
• 3,707 – all-time high
• 3,730 – breakout target
Indicators:
• MACD: Positive, but momentum slowing
• Stochastic: Turning down from overbought
• RSI: 77 – strong but nearing exhaustion
• Bollinger Bands: Near upper band – volatility elevated

📈 Trading Scenarios
✅ Bullish Setup:
• Entry: Above 3,674 with confirmation
• Targets: 3,707 ➡️ 3,730
• Stop-Loss: Below 3,612
• Catalysts: Continued Fed easing, geopolitical risks, central bank buying
❌ Bearish Setup:
• Entry: Below 3,612
• Targets: 3,508 ➡️ 3,440
• Stop-Loss: Above 3,674
• Catalysts: Strong U.S. data, rising yields, profit-taking near highs