Gold/USD surges past $3,600 as September breakout accelerates

Gold/USD has powered through the $3,600 psychological level, extending its relentless uptrend that began in September following a three-month consolidation period from May to August. The precious metal continues to benefit from persistent global economic uncertainties and expectations of looser monetary policies from major central banks. Technical momentum remains strongly bullish, with the breakout from the $3,500-$3,550 consolidation range providing fresh impetus for buyers. The sustained rally since last year has pushed gold into uncharted territory, with no immediate resistance levels visible on the charts. However, traders should note that such parabolic moves often face sharp corrections, and the extended rally may be due for a pullback to test support levels around $3,550 or the previous consolidation zone. Near-term momentum indicators remain overbought, suggesting caution for new long positions at current levels.