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Today, spot gold (XAUUSD+) has broken above its 9-day simple moving average (SMA) - a key technical resistance for all of last week.
With prices touching $4150 for the first time since Nov. 14th, bulls will be sizing up the $4200 psychological level - the upside target previously highlighted in last Friday's (Nov 21) Week Ahead Preview Livestream (also available on X).
Gold and other TradFi assets are clearly taking comfort from restored bets for a Fed rate cut in December.
Fed funds futures are now pointing to a 77% chance that the Federal Reserve - the world's most influential central bank - will decide to lower US interest rates again at the December 9-10th FOMC meeting.