Gold is once again the focus of the market. I just noticed that the XAU/USD price continuously hits new highs, and domestically, SJC gold is also fluctuating quite strongly around the 87-88 million VND per tael mark. The main reason is that the BRICS bloc is increasing gold purchases to reduce dependence on the dollar, plus the Fed shows signs of cutting interest rates next year. Geopolitical tensions are also supporting safe-haven sentiment.

If you want a simple yet effective way to read gold price charts, just pay attention to a few things: first is the overall trend (whether the price is rising or falling), second are the key support and resistance levels. No need to overcomplicate. An effective way to view charts is to focus on long-term timeframes (daily or weekly) to catch the main trend, rather than fussing over small fluctuations.

I think anyone interested in gold should also keep an eye on the Fed's situation and the dollar price. Those are the two most decisive factors. When the dollar weakens, gold will have the opportunity to rise. That is a fundamental rule that everyone needs to know when trading this precious metal.