Gold Surges Past $4,500, Reaches Record High
Gold has entered a historic rally, breaking above the $4,500 level and setting a new all-time high near $4,526. The breakout reflects strong bullish momentum, supported by rising volume and firm buyer conviction, though some short-term profit-taking is emerging.
Technically, the trend remains positive. MACD confirms strength, while RSI in overbought territory suggests brief consolidation may occur before further upside. Gold is now on track for its strongest annual performance since 1979, with gains exceeding 70% year to date.
The rally is fueled by expectations of future U.S. rate cuts, continued central bank buying, geopolitical uncertainty, and a softer dollar. Key support lies near $4,430–$4,400, while a sustained move above $4,526 could open the path toward $4,565 and $4,600.
