Headline: Gold Extends Recovery Above $4,200 as Data Uncertainty Lifts Safe-Haven Demand
Gold’s rebound gathered momentum today, climbing 0.4% to around $4,214 as buyers continued to defend the metal after last week’s dip below $4,000. With sentiment buoyed by persistent uncertainty around U.S. economic data and the Federal Reserve’s next steps, the move back above $4,200 has strengthened the technical outlook for XAU/USD.
On the charts, gold has reclaimed the 50% Fibonacci retracement of the late-October decline and now sits comfortably above the $4,200 threshold. That shift puts bulls in position to challenge the October peak near $4,380, especially after a notable wave of dip buying emerged beneath the $4,000 mark. From a trend perspective, the recovery suggests momentum is turning constructive as long as price holds above recent support.
Macro drivers remain supportive. Despite the end of the U.S. government shutdown, markets still face a patchy flow of data, with questions lingering over the release of October labor figures, retail sales, and clearer inflation readings ahead of December’s FOMC meeting. With limited visibility on jobs and consumer spending, the Fed is likely to proceed cautiously—an environment that typically favors gold through stronger safe-haven flows and expectations for steadier real yields.
Key Points: – Gold rises 0.4% to about $4,214, extending a recovery above the $4,200 level – Price has reclaimed the 50% Fibonacci retracement of the recent downswing – Bulls are eyeing a move toward the October high near $4,380 – Ongoing uncertainty around U.S. jobs, inflation, and retail sales supports safe-haven demand – The Fed’s cautious stance into the December FOMC meeting underpins gold’s appeal
