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Gold Outlook: Bulls Eye Higher Levels as Safe-Haven Demand Stays Strong

Gold (XAU/USD) remains supported despite a stronger US Dollar, with prices holding near recent highs as geopolitical risks and softer US monetary policy expectations continue to favor safe-haven assets. Ongoing tensions surrounding the Strait of Hormuz have kept market uncertainty elevated, while weaker US labor data has reinforced expectations that the Federal Reserve will remain patient on interest rates.

Long-term fundamentals also remain bullish. Central banks continue accumulating gold at a steady pace, with the People's Bank of China extending its buying streak to 19 consecutive months. Meanwhile, recent data shows gold has overtaken US Treasuries as one of the world's leading reserve assets, highlighting strong institutional demand.

From a technical perspective, XAU/USDT has turned constructive after breaking above its descending trendline. The breakout suggests sellers are losing control, although price is now approaching a major resistance zone between 4,183 and 4,210. Momentum has slowed slightly after becoming overbought, increasing the possibility of short-term consolidation before the next directional move.

A sustained break above 4,210 would strengthen the bullish outlook and could open the door toward 4,300, followed by 4,361. On the downside, 4,123 is the first level to watch, while 4,020-4,007 remains the key support zone. As long as gold holds above this area, the broader recovery trend remains intact.

Overall, both macro fundamentals and technical structure continue to favor buyers. While short-term volatility may increase near resistance, the broader outlook remains positive unless key support levels are broken.
$XAUT ‌