🔍 Fundamental Overview
Gold continues its bullish run into the second week of September, reaching new yearly highs and approaching historical record levels. The rally is fueled by:
• Federal Reserve Rate Cut Expectations: Markets are pricing in a near 100% probability of a 25-basis-point rate cut in September.
• Weak US Labor Data: ADP employment rose by just 54K (vs. 73K expected), JOLTS job openings fell to 7.18M, and jobless claims hit a two-month high.
• Geopolitical Risks: Political pressure on the Fed and global uncertainty continue to boost safe-haven demand.
• Asian Demand: Sustained buying from Asia supports physical gold prices.

📊 Technical Analysis
🔹 Support Levels:
• $3,508 – key short-term support
• $3,469 – secondary support
• $3,265 – deeper correction zone
• $3,527 – breakout base from previous consolidation
🔹 Resistance Levels:
• $3,588 – recent high and breakout level
• $3,600 – psychological barrier
• $3,620 – extended bullish target
• $3,650 – upper bullish extension zone
🔹 Indicators:
• MACD: Bullish momentum increasing
• Stochastic Oscillator: Near overbought (88–90), signaling possible short-term pullback
• Bollinger Bands: Widening, confirming volatility and trend strength
• Parabolic SAR: Positioned below price, confirming upward momentum

📈 Trading Scenarios
✅ Bullish Setup:
• Entry: Above $3,588 or on rebound from $3,508
• Targets: $3,600 ➡️ $3,620 ➡️ $3,650
• Stop-Loss: Below $3,508
• Catalysts: Fed rate cut, weak US data, geopolitical tension
❌ Bearish Setup:
• Entry: Below $3,508
• Targets: $3,469 ➡️ $3,265
• Stop-Loss: Above $3,588
• Catalysts: Strong US data, rising bond yields, profit-taking