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Spot Gold Hits Record – Bullish Trend Points to $3,600

Spot Gold briefly hit a record above $3,548/oz in Asian trade before easing slightly, with safe-haven demand underpinned by fiscal concerns and tariff uncertainty after a US court ruling against Trump’s trade tariffs.

The US dollar rebound capped gains, but with Fed funds futures still pricing an 80%+ chance of a 25 bp cut this month, metals remain supported ahead of Friday’s NFP report.

Technically, the RSI is firm but overbought, the MACD remains mixed, and the ADX confirms a strong bullish trend.

The sustained push above the $3,506–16 zone now puts $3,574–76 on the radar. Reassess from there.

Weekly Chart Spot Gold

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