Gold

Key Indicators

• Gold holds above the key $4,500 psychological zone, signaling a short-term bullish shift after weeks of lower highs and lower lows.

• Momentum is likely to remain positive while gold trades above the $4,500 pivot level. With buyers currently in control, XAU/USD could advance toward the primary resistance level at $4,600.

Fundamental Context

Gold climbed to a fresh multi-week high of $4,543 on Friday morning, extending its bullish move after breaking above the previous resistance level.