Core Viewpoint - The recent price movements in gold indicate a potential for further upside, with key resistance and support levels identified for future price action [1][4]. Price Movements - An initial short-term upside target at the 127.2% Fibonacci extension of $4,516 was achieved, followed by a bearish intraday reversal and indecisive closing [1]. - The next projected target is at $4,578, with further price zones identified at $4,664 and $4,687, which are based on long-term extended measures [1]. Pullback Dynamics - The first pullback after reaching new record highs is crucial for assessing momentum, with key support at the 10-day moving average currently at $4,360 [2]. - A breakout above the prior trend high of $4,381 is expected to continue the bullish trend, with a shallower pullback indicating stronger demand [2]. Year-End Position - Gold is positioned to finish the year on a bullish note, with buyers in control and dynamic support tested leading to a bullish breakout [3]. Outlook - Gold's recent push to $4,526 met with indecision and mild selling, but a hold above the rising 10-day average and prior high favors continuation towards $4,578–$4,687 [4]. - A deeper weakness below $4,430 could risk a more significant pullback, although the larger bullish trend remains supportive [4].