GOLD - Distribution phase. Target - ATH (4380), 4400...

Dec 12, 2025

XAUUSD is rallying after breaking through consolidation resistance. The fundamental background is positive, with the train heading for an all-time high.

Expectations of a soft Fed policy remain, with the market pricing in two rate cuts in 2026. India's pension fund regulator has allowed investments in gold and silver ETFs. An increase in US unemployment claims (+44,000) has heightened fears of a slowdown in the labor market.
A reversal in the Bank of Japan's policy (rate hike) and a pause by the ECB are boosting the appeal of gold.
Any correction is likely to be short-term and will be met with support from buyers. The baseline scenario remains bullish amid soft monetary policy and a weakening dollar.
Technically, it is dangerous to sell in the current market; it is worth looking for buying opportunities after corrections or pullbacks...

Resistance levels: 4325, 4335, 4380
Support levels: 4300, 4285, 4265

The rally phase is quite aggressive due to the long period of consolidation that the market has been in. All possible factors are supporting growth. In such a market, one can only buy on pullbacks. I expect a pullback from the indicated zone, within which growth to ATH can be considered.

Sincerely, R. Linda!

Dec 13, 2025

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