Gold Grinds North of $4,150, US Data Eyed

Gold extends its climb early Wednesday, holding firm above $4,150 as the USD weakens and US Treasury yields drift lower. This supportive backdrop keeps bullish momentum alive ahead of upcoming US data.

📰 Latest XAU/USD Headlines

• Gold rises on firming Fed rate cut bets and weaker USD
• Gold climbs as stalling inflation, weak spending fuel December cut bets
• Gold holds steady as soft US data boosts easing expectations
• Gold stands above $4,100 amid Fed easing hopes

📊 Technical Overview — Bulls Eye $4,245 Next

Current Price: $4,164

Upside Levels

• $4,245 — November high (Nov 13)
• $4,380 — All-time high (Oct 17)

Momentum supports continuation:

• RSI → ~58: bullish momentum building
• ADX > 19: trend strength gradually increasing

A clean break above $4,150–$4,170 zone opens the door toward $4,245.

Downside Levels

If sellers step in, watch:

• $3,968 — 55-day SMA
• $3,886 — weekly base (Oct 28)
• $3,750 — 50% retracement of May–Oct rally

These zones act as key supports on any pullback.

📉 Fundamental Overview — USD Weak, Yields Down, Gold Supported

USD Under Pressure

Weak US data continues to weigh on the Dollar:

• Softer ADP employment
• Weaker Retail Sales
• Decline in Consumer Confidence

This combination keeps the USD offered and supports gold.

Yields Continue to Drop

Lower yields reduce the opportunity cost of holding gold — adding fuel to the upside.

Fed Rate Cut Bets Strengthen

Markets now price:

• 76% probability of a December 10 Fed cut
• ~90 bps of easing by end-2026

A clear tailwind for XAU/USD.

Risk Appetite Caps the Upside

Equities and risk-linked assets are catching a bid — temporarily cooling safe-haven flows into gold.

Despite this, gold remains on track for its 4th straight monthly gain, building on October’s move toward $4,400.

🎯 What’s Next?

Gold may shift into consolidation as US markets head into the Thanksgiving lull (Nov 27) — typically a low-volatility period.

Upcoming US data remains the key catalyst for short-term direction.