Gold

Key insight

4,288 consolidates below 4,300 round-number resistance after a sustained rally; a daily close above 4,300 opens the measured extension to 4,400 while the 50-day MA at 4,100 anchors the bull structure.

4,288 holds near record highs as USD/JPY slips to 158.0 and equities dip — safe-haven and rate-cut tailwinds sustain gold's multi-month uptrend above the 50-day MA at ~4,100.

Main risk

USD / Real-Yield Reversal

Surprise uptick in US real yields or DXY re-strengthening above 103 would pressure gold toward 4,100 50-day MA support.