XAU/USD continues to ignore overnight pressure and extends its rally, printing fresh all-time highs during the Asian session on Wednesday š. Despite mixed global market conditions, bullish momentum remains strong, showing that buyers are not ready to give up.
š¹ Whatās Driving Gold Higher?
š¦ Dovish Fed Expectations
Expectations of a softer Federal Reserve stance are weighing on the US Dollar šµ. Lower rate outlooks reduce the opportunity cost of holding Gold, making the non-yielding metal more attractive šā”ļøš”.
š± Weak US Dollar
Continued USD weakness is acting as a powerful tailwind for XAU/USD, allowing Gold to stay supported even during minor pullbacks š½ā”ļøš¼.
š Rising Geopolitical Tensions
Ongoing global uncertainty and geopolitical risks are boosting Goldās appeal as a safe-haven asset š”ļø, keeping demand elevated.
š¹ Technical View š
Goldās ability to hold near record levels highlights strong underlying demand. The structure of higher highs and higher lows suggests the broader bullish trend remains intact, with dips attracting fresh buyers š§².
š® Outlook:
With a dovish Fed, a softer USD, and persistent geopolitical risks, Gold bulls remain firmly in control š. The upside bias stays intact, though traders should remain alert around key economic data and volatility ā ļø.
ā ļø Trade responsibly and manage risk carefully.
