Gold Soars Toward Record High as Market Momentum Builds

Gold Rebounds Strongly Toward All-Time High

During Wednesday's Asia session, spot gold briefly climbed above the $4,500 mark, reaching $4,498 per ounce—the first significant rebound in over a week. While it hasn't yet set a new record, analysts believe this momentum lays the groundwork for a fresh peak.

Three Key Drivers Behind the Rally

• Sticky global inflation: Higher-than-expected CPI readings worldwide are pushing investors into safe-haven assets.
• Strong central bank demand: Central banks, especially in emerging markets, continue aggressive gold accumulation.
• Weaker dollar outlook: The Fed's dovish stance is dampening dollar appeal, giving gold an upward boost.

Technically, gold has cleared major resistance levels, forming a bullish 'ascending triangle' pattern on the daily chart. Traders are now eyeing the $4,550 psychological level, which, if broken, could trigger further inflows.