Core Viewpoint - The recent increase in gold prices is primarily driven by expectations surrounding the U.S. government funding bill and economic data indicating a slowdown in the U.S. economy, which enhances gold's appeal as a safe-haven asset [2][3]. Fundamental Analysis - Key drivers for gold's rise include the anticipated end of the U.S. government shutdown, with the House of Representatives moving towards a final vote on a funding bill, and President Trump indicating he will sign it. This has led to market expectations that upcoming economic data will confirm economic weakness in the U.S., further increasing gold's attractiveness [2]. - Economic indicators show weakness, with the ADP weekly employment report indicating a reduction of an average of 11,250 jobs per week in the private sector, reinforcing expectations for a Federal Reserve rate cut, with a 65% probability of a 25 basis point cut in December [2]. - The yield on the U.S. 10-year Treasury bond has fallen to 4.059%, reducing the opportunity cost of holding gold, coupled with economic uncertainty, leading to increased investment in precious metals [3]. - Future focus areas include the final voting results and signing progress of the U.S. government funding bill, the release of delayed economic data, particularly employment and inflation reports, and signals from Federal Reserve officials regarding interest rate cuts [3][4][5]. Technical Analysis - On the daily chart, the gold market has shown a strong upward trend, achieving four consecutive days of gains, indicating increasing bullish sentiment [6]. - Technical indicators reveal a strong short-term trend, with the 5-day and 10-day moving averages forming a golden cross, suggesting the stability and continuation of the upward trend. The 5-day moving average is currently acting as a strong support level [6]. - On the four-hour chart, the current market is in the C-wave of a corrective structure, with expectations of a five-wave push within this C-wave. Monitoring the momentum and completion of this wave structure is crucial for future positioning [8]. - Key resistance levels to watch include 4211/4212, with potential further resistance at 4238 and 4275/4276. Support levels to monitor are 4168, 4155-4140, and 4120 [9].