New XAUUSD Records — $4,600!Over the past month, gold against the US dollar
(XAUUSD) has gained more than 10%, rising from around $4,170 per ounce to new all-time highs above $4,600. The rally is unfolding amid expectations of a more dovish Federal Reserve policy, a weaker US dollar, and a surge in demand for safe-haven assets.
FreshForex analysts previously pointed to the upside potential driven by central bank activity — and this factor remains one of the key drivers.
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Five growth drivers:1.
The Fed is cutting rates. Yields on deposits and bonds are declining, making gold more attractive.
2.
The dollar is weakening. When the USD falls, gold priced in dollars usually rises, while also serving as protection against USD depreciation.
3.
Heightened global tensions. Conflicts and political risks increase market anxiety and boost demand for safe-haven assets — primarily gold.
4.
Central banks are actively buying gold. Steady demand from governments supports prices and reduces the risk of deep pullbacks.
5.
Capital inflows into gold funds + the record-high effect. At historical highs, new buyers enter the market, reinforcing the trend.
Gold remains one of the main beneficiaries of an era of elevated uncertainty. FreshForex analysts note that in 2026,
the asset is worth considering for purchases — but with strict risk management. It is crucial to closely monitor Fed decisions, dollar dynamics, geopolitical flare-ups, and flows into precious metals funds. On a strong market,
local pullbacks can often be viewed as opportunities for more cautious re-entry — provided there is discipline and clear stop-loss control.
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