Core Viewpoint - The recent surge in gold prices is primarily driven by rising expectations of interest rate cuts by the Federal Reserve, alongside significant central bank gold purchases and a temporary trading disruption due to a technical issue at the Chicago Mercantile Exchange [3][4][6]. Group 1: Factors Driving Gold Price Increase - The expectation of Federal Reserve interest rate cuts has risen sharply, with the probability of a rate cut in December exceeding 80% following lower-than-expected inflation data for November [3]. - Global central banks are significantly increasing their gold reserves, with the proportion of gold in their total reserves rising from 15% in Q2 2025 to nearly 20% currently, marking a historical high [4]. - A technical failure at the CME led to a trading halt for over 10 hours, exacerbating liquidity issues and contributing to the volatility in gold prices during the Thanksgiving holiday [4]. Group 2: Technical Analysis and Future Outlook - The gold price has shown a clear upward trend, closing above the 5-day moving average at $4074, with bullish patterns indicating a strong potential for further increases [6]. - Technical indicators such as MACD and KDJ suggest a continued bullish momentum, with MACD remaining above the zero line and showing increasing bullish energy [6]. - The recommended trading strategy includes buying on dips around the $4188-$4190 range, with a stop loss at $4178 and a target of $4200-$4202, while also considering short positions if prices reach $4245-$4247 without a pullback [9].