Gold Price Analysis

Gold (XAU/USD) continued its bullish momentum on Tuesday, breaking above the key $4,000/oz mark for the first time, as investors sought safety amid global economic and political uncertainty.

The precious metal is currently trading near $4,060, with strong support around $3,960 and resistance near $4,085–$4,120. Analysts note that while the uptrend remains intact, the market is entering overbought territory, suggesting a potential short-term pullback.

Safe-haven demand is being fueled by multiple global concerns — including the ongoing U.S. government shutdown, political instability in Europe, and persistent tensions in Eastern Europe. Additionally, central banks’ continuous gold accumulation and strong ETF inflows are keeping the metal well-supported.

Traders are advised to watch for volatility around these levels, with potential retracements offering new buying opportunities as long as prices remain above $3,960.

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