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Gold Retreats from Record High at $4,373

Profit-taking after a rally fueled by a weaker dollar

Gold spiked to a new all-time high of $4,373, before retracing sharply to $4,246 amid profit-taking. Despite the pullback, the price remains within a short-term ascending channel, while the MACD stays positive. However, the RSI shows clear overbought signals, hinting at a possible continued correction in the near term.

Fundamental Drivers:

• Weaker U.S. dollar after disappointing data.
• Rising expectations of Fed rate cuts in early 2026.
• Central bank demand for gold as financial risks rise.
• Profit-taking after reaching a new record.

Outlook:

• Gold is expected to stay supported above $4,200, with strong demand likely near $4,180.
• A break back above $4,300 could reignite bullish momentum toward $4,370,
• while a drop below $4,180 might trigger deeper correction to $4,080 – $4,050.

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