Gold Daily | Spot Gold Rebounds Amid Fed Rate Cut Remarks, Eyes $3,900 Resistance on Economic Uncertainty

【Latest Gold Price and Recent Trends】

Spot gold is around $3,860 per ounce, rebounding from a low of $3,837.94. Recent volatility was driven by cautious Fed rate cut remarks, with gold prices reaching record highs before a sharp retreat.

【Technical Analysis】

According to Dhwani Mehta, as long as the 4-hour RSI remains above the midline, buyers are hopeful. Key resistance is at $3,900; breaking it could push prices to $4,000. Supports are at $3,803, $3,736, and $3,700.

【Market Sentiment and Economic Background】

Gold faced volatility following hawkish comments from Dallas Fed President Logan, sparking adjustments in rate cut expectations. Despite a temporary dollar recovery, gold remains supported with a potential 99% rate cut chance in October. The U.S. government shutdown could delay key data like the non-farm payroll report, influencing market dynamics. Economic uncertainties and geopolitical tensions sustain gold’s appeal as a safe haven asset.

【Analyst Opinions】

Valeria Bednarik sees recent declines as corrections, with long-term bullish sentiment intact. Bob Haberkorn notes Logan's comments have introduced caution about aggressive Fed actions. Christian Borjon Valencia suggests that if gold stays above $3,850, targets could shift to $3,900. Goldman Sachs emphasizes gold's bullish outlook, forecasting potential prices of $4,000 by mid-2026.