Gold remains well-supported as markets enter a holiday-shortened week. Equity markets rallied nearly 1% yesterday, not due to optimism, but because weakening economic data locks the Fed into an accommodative path. Rising unemployment claims and disappointing retail sales drove the probability of a December rate cut from 40% to 80% within days. Kevin Hassett’s potential appointment as Fed Chair strengthens the dovish narrative, lowering policy uncertainty and supporting lower real yields—tailwinds for gold.
Key Levels: Support at 4,076.10 │ Resistance at 4,218.58 / 4,011.97
Investor Takeaway: Bullish sideways-to-up structure continues; breakout above resistance would confirm continuation, while support remains solid.
