Saad Ullah
Gold's doing what it does best - making new highs when the world gets messy. September 9th saw spot prices punch through $3,659 per ounce, marking another milestone in what's already been a stellar year for the precious metal. This isn't just another day at the office for gold - it's cementing its place as one of 2025's top performers.
Chart Breakdown: The Numbers Don't Lie
- All-Time High: $3,659 - a clean breakout that caught everyone's attention
- Support Levels: Look for buyers around $3,640, with stronger backing near $3,600
- Next Targets: $3,700 and $3,750 are the psychological levels everyone's watching
- Session Details: Opened at $3,658, peaked at $3,659, before settling back to $3,642
The intraday action tells the story perfectly. Gold opened strong, pushed higher throughout the session, and only gave back minimal gains by close. That's textbook bullish behavior, and it aligns with what analysts at Moby Media flagged as a major turning point.
What's Driving This Rally
Multiple factors are lining up perfectly for gold right now. Geopolitical tensions keep investors nervous, driving safe-haven flows into the metal. Central banks worldwide continue their steady buying, providing a solid foundation under prices. Meanwhile, softer US economic data is fueling bets that the Fed will cut rates sooner than expected - great news for non-yielding assets like gold. Add in a weaker dollar, and you've got the perfect storm for higher gold prices.
The bulls are clearly in control here. If gold can hold above $3,640, there's a clear path toward $3,700-$3,750 in the near term, with some optimists eyeing $3,800 and beyond. But nothing goes up forever. A slip below $3,640 could trigger profit-taking and send prices back toward the $3,600-$3,580 zone.
Saad Ullah
