Stable Weekend Session: Gold Set for Breakout Next Week?

anteontemThe current chart shows gold trading near key resistance with a steady uptrend. The market closed the weekend session without much sudden movement, reflecting stability following the Fed’s 50bp rate cut. This stability could extend into early next week, as the market continues to assess the long-term impact of monetary policy measures and macroeconomic developments.

With the current price near $2,589, gold could test the resistance at $2,599 and, if successful, could continue to rise. Pay attention to the early trading session next week, if gold maintains its strong growth momentum and there are no negative signals from the market, the next target could be $2,650.