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Gold Clears $4,000 As Bulls Take Charge Focus Shifts To $4,120$4,150
(MENAFN- The Rio Times) Spot gold traded around $4,080 per ounce in the European morning, extending an overnight jump that carried prices to a two-week high.
Futures in New York tracked the move, while London's benchmark headed into the session firmer and Asian prices stayed bid after a strong open.
The week leading into today was a round trip with a sturdier finish: bullion briefly slipped early last week toward the mid-$3,900s, then rebuilt momentum above $4,000 as a run of softer U.S. figures cooled real yields and revived talk of an early Federal Reserve cut.
That shift-more market than ideology-put the focus back on policy credibility and fiscal discipline, themes that usually favor hard-asset hedges when growth and prices move out of sync.
Overnight, the tone didn't change. Dealers described steady physical interest in Asia and a cleaner book on futures after shorts covered into the break above $4,000.
Gold regains momentum as inflows return
In India, local futures firmed alongside the global move; in China, reference contracts showed active turnover; and London's liquidity pockets were better offered on dips than on rallies, a sign of buy-the-pullback behavior rather than speculative froth.
Flows have stopped acting like a headwind. The largest gold ETF reported incremental inflows at the end of last week, small in size but notable for direction, suggesting that portfolio hedgers are adding exposure on weakness instead of selling strength.
Positioning on U.S. exchanges echoed that change, with open interest stabilizing after a month of choppy liquidation. Technicals now lean constructively on both the daily and 4-hour charts.
Daily momentum has turned up, the negative histogram is fading, and price is holding above a cluster of short-term moving averages. Intraday, RSI sits in the high-60s and MACD has crossed higher after price punched through the $4,02x–$4,06x congestion band.
The immediate test is a late-October supply zone near $4,120–$4,150; sustained closes above it would reopen a path toward the prior peak. On the downside, $4,000 is first support, followed by $3,960 and the early-November swing low.
Bottom line: with real-rate pressure easing and investors rewarding prudence over promises, gold's bias is higher while $4,000 holds.
Futures in New York tracked the move, while London's benchmark headed into the session firmer and Asian prices stayed bid after a strong open.
The week leading into today was a round trip with a sturdier finish: bullion briefly slipped early last week toward the mid-$3,900s, then rebuilt momentum above $4,000 as a run of softer U.S. figures cooled real yields and revived talk of an early Federal Reserve cut.
That shift-more market than ideology-put the focus back on policy credibility and fiscal discipline, themes that usually favor hard-asset hedges when growth and prices move out of sync.
Overnight, the tone didn't change. Dealers described steady physical interest in Asia and a cleaner book on futures after shorts covered into the break above $4,000.
Gold regains momentum as inflows return
In India, local futures firmed alongside the global move; in China, reference contracts showed active turnover; and London's liquidity pockets were better offered on dips than on rallies, a sign of buy-the-pullback behavior rather than speculative froth.
Flows have stopped acting like a headwind. The largest gold ETF reported incremental inflows at the end of last week, small in size but notable for direction, suggesting that portfolio hedgers are adding exposure on weakness instead of selling strength.
Positioning on U.S. exchanges echoed that change, with open interest stabilizing after a month of choppy liquidation. Technicals now lean constructively on both the daily and 4-hour charts.
Daily momentum has turned up, the negative histogram is fading, and price is holding above a cluster of short-term moving averages. Intraday, RSI sits in the high-60s and MACD has crossed higher after price punched through the $4,02x–$4,06x congestion band.
The immediate test is a late-October supply zone near $4,120–$4,150; sustained closes above it would reopen a path toward the prior peak. On the downside, $4,000 is first support, followed by $3,960 and the early-November swing low.
Bottom line: with real-rate pressure easing and investors rewarding prudence over promises, gold's bias is higher while $4,000 holds.
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