Last night, gold broke the key support level of $4,000/ounce as strong profit-taking took place, with capital flows shifting toward the stock and crypto markets.
This move is considered normal after the recent gold rally, which surged too fast and too strong — and now, the market needs a short period of price stabilization.
However, the upward momentum of gold has not completely ended. With inflation picking up again, expectations for further Fed rate cuts continue to rise, supporting gold’s medium- and long-term bullish outlook.
Therefore, at the moment, gold is likely entering a cooling phase, forming an accumulation zone while waiting for a strong enough catalyst to resume its long-term uptrend.
Technical Analysis:
In the short term, gold may form a wide-range sideways consolidation between $3,945 and $4,100 before the interest rate decision is announced.
=> We can consider trading both ends of this range with buy/sell positions, targeting 30–50 points for short-term trades.
Trí Hùng
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