Gold continue to rise rapidly?Hello everyone! Let’s dive into what’s been happening with XAUUSD lately.
Last week, gold delivered a stunning reversal - plunging sharply and then surging nearly 800 pips within just a few sessions. This rapid shift was largely triggered by key remarks from the Federal Reserve Chair and several important economic data releases.
Specifically, weaker-than-expected US employment data has fueled growing expectations that the Fed could begin easing monetary policy sooner than anticipated. At the same time, a global financial survey shows that analyst sentiment toward gold is at its highest in months. In the face of persistent global uncertainty, gold is once again attracting strong safe-haven demand.
Despite the impressive rally, volatility remains high. The next moves in gold will likely hinge on upcoming economic indicators and further statements from Fed officials. Meanwhile, the holiday calendar may lead to quieter trading sessions ahead.
From a technical perspective, gold has broken out of its previous downtrend channel and is moving quickly. According to Dow Theory, a short-term correction may occur, but as long as price holds above key support levels, the bullish momentum could extend toward $3,416 — the 1.618 Fibonacci extension.
This breakout could mark the beginning of a new bullish phase after weeks of consolidation.
What do you think – is this just the start of something bigger for gold?
