Gold Surges to New Highs Near $3,600 — Can the Rally Continue?
September 8, 2025 | Trading Desk News Gold extended its rally last week, pushing to fresh record highs as expectations for U.S. Federal Reserve rate cuts, central bank buying, and safe-haven demand continue to drive prices higher. Gold Price Snapshot Spot Gold (XAU/USD): $3,586 (+4.1% WoW) Gold Futures (Dec): $3,650 Year-to-Date Performance: +34% (after a +27% gain in 2024) Weekly Range: $3,465 – $3,650 Key Drivers Behind the Rally Fed Rate Cut Expectations Softer U.S. economic data, including rising unemployment (4.3%), has fueled speculation of a September rate cut. Lower rates weaken the dollar and boost gold’s appeal. Central Bank Buying Global central banks, led by China, India, and Turkey, have been aggressively increasing gold reserves — a trend likely to continue into Q4. Weak U.S. Dollar & Lower Treasury Yields The recent dollar decline and falling real yields have provided additional upward momentum for gold. Safe-Haven Demand Ongoing geopolitical tensions and global growth concerns have strengthened gold’s role as a defensive hedge. Technical Outlook: Bullish but Volatile Gold’s rally remains strong, but analysts caution that short-term pullbacks are likely before the next leg higher: Immediate Support: $3,520 – $3,500 Key Resistance: $3,680 – $3,800 A break above $3,800 could open the door to $4,000 in the coming months, while a drop below $3,465 may trigger a short-term correction. Market Forecasts Goldman Sachs: Targets $3,700 by year-end; bullish case sees $4,000 by mid-2026. CoinCodex: Sees $3,644 next week and an average $3,986 by December 2025. Citi & HSBC: Warn of a potential slowdown in 2026, projecting a possible retracement toward $3,000 if global growth stabilizes. What to Watch September 17 FOMC Meeting → Rate cut decision could set the tone for Q4. U.S. CPI & PPI Data → Inflation figures will influence Fed policy and gold momentum. ETF Flows & Central Bank Activity → Continued demand could accelerate upside moves. Trading Strategy Bias: Bullish on dips Entry Zone: $3,520 – $3,550 Upside Targets: $3,680 → $3,800 → $4,000 Stop-Loss: Below $3,465 Bottom Line Gold remains in a structural bull market supported by central bank demand, softer Fed policy, and safe-haven flows. Short-term volatility is expected, but the overall bias stays upward, with $3,800–$4,000 emerging as the next major upside target.
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Sep 06, 2025 • 12:09 AM
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