XAU/USD rebounds to $3,978 as silver eyes breakout above $50 resistance

XAU/USD has recovered from intraday lows of $3,947 to trade 0.1% higher at $3,978, demonstrating resilient buying interest following yesterday's pullback. The precious metal's relentless rally since September continues to attract dip buyers, though near-term technical challenges persist according to chart analysis. Silver shows even stronger momentum, approaching a critical breakout above the psychological $50 level that could accelerate gains. The sustained precious metals rally reflects persistent inflation concerns, geopolitical uncertainties, and central bank gold accumulation trends. Technical indicators suggest immediate resistance for gold at $4,000, while support has formed at $3,947 (today's low). A successful silver breakout above $50 could provide additional bullish momentum for the entire precious metals complex, potentially pushing gold toward new record highs above $4,000 in the near term.