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Gold (XAUUSD) Price Forecast: Fed Cut Hopes and Geopolitics Lift Gold, But Reversal Risk Grows
Spot gold (XAU/USD) surged to another record high on Monday, briefly touching $4079.92 after clearing last week’s top at $4059.35. While there’s no defined resistance at all-time highs, the chart is starting to raise red flags for short-term traders. The rally is technically overbought, and price action now shifts focus to reversal signals rather than upside targets. At 10:26 GMT, XAU/USD is trading $4074.10, up $57.42 or +1.43%. With Relative Strength Index readings around 80 and no clear resistance overhead, bulls remain in control — for now. But a higher-high, lower-close or closing price reversal top would ... (full story)
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