💰 Gold Bulls Eye $4,200 as Fed Cut Bets Rise
Technical View:
Gold remains bullish with the RSI firm above 60, signalling strong buying momentum.
A daily close above $4,129 could trigger an advance toward $4,200+, while key supports lie at $4,086 and $4,050.
Fundamental View:
Gold is up over 3% this week, boosted by optimism over the US government reopening and rising expectations of a December Fed rate cut (now priced at ~64%).
Weak US sentiment data and layoff figures continue to fuel the dovish narrative, keeping gold demand strong even as yields and equities stabilise.
📊 Market tone stays bullish as traders await fresh labour data for confirmation.
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Daisy__Carter9268
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