Weekly Report: Safe-Haven Sentiment Boosts Gold Prices Breakthrough, Key Resistance Next Week

Gold Digger Lao Mao

This week, international spot gold (XAU/USD) continued its strong upward momentum under the resonance of multiple positive factors, successfully breaking through previous highs.

From the news perspective, ongoing escalation of global geopolitical tensions has provided solid support for gold's safe-haven demand. Meanwhile, market expectations of interest rate cuts by major economies next year have further strengthened, and the decline in real interest rates continues to benefit gold, a zero-yield asset. Additionally, the weakening of the US dollar index has created favorable conditions for the rise in dollar-denominated gold prices.

On the technical side, gold prices experienced a brief correction at the beginning of this week, quickly rebounding after touching support around 4280 USD, then soaring higher. From the 4-hour chart, gold has already broken through previous highs, forming a solid upward channel. The current price near 4510 USD faces short-term resistance, but the overall bullish trend remains strong. Support levels below can be watched at 4450 USD and 4400 USD.

Looking ahead to next week, the focus of the gold market will continue to be on the evolution of geopolitical situations and global central bank policy signals. If safe-haven sentiment continues to heat up, gold prices may challenge the 4600 USD threshold. However, caution is advised—if tensions ease or the dollar rebounds, gold prices could face a pullback. In terms of trading strategy, it is recommended to focus on buying on dips, with resistance at the 4580-4600 USD range, and support at the 4450-4480 USD range.

Disclaimer: The content of this article is for personal opinion sharing only and does not constitute any investment advice or operational basis. The market is uncertain; investments should be cautious. Investors should make independent decisions and bear their own risks.