Gold Price Forecast: XAU/USD extends gains nearing $4,200 as US Dollar struggles - Mitrade

AI desk brief

Gold extended its second straight session of gains, trading near $4,180/oz with bulls targeting the $4,230 area, the top of October’s range. Near-term support is seen around $4,150, then $4,070, while a break above $4,230 opens $4,315; the 4-hour RSI is still positive near 57 and MACD remains above zero.

The move is being driven by lower US Treasury yields and dovish Fed rhetoric, which have outweighed hotter-than-expected September PPI and resilient retail sales. Market pricing still implies a low probability of an October Fed hike, keeping the dollar under pressure and supporting bullion.