Gold to 4,000 this month?

Gold Weekly Analysis (2 min read)

Overview
Gold has been performing exceptionally well since the beginning of the year. After a strong bullish rally from January to April, the market entered a consolidation phase that lasted from late April until the end of August. With no major bearish catalysts during that period, bullish momentum resumed at the end of August — leading to one of the strongest performing months in September.
Interestingly, September is usually not a strong month for gold, which makes this rally particularly notable.

Macro Context
Uncertainty, the Fed’s current easing stance, weaker U.S. economic conditions, ongoing geopolitical tensions, and Trump’s unpredictable behavior are all contributing to sustained bullish pressure on gold. For now, the upside narrative remains intact, and buyers continue to dominate.

Price Outlook
Currently trading around $3,885, gold could easily test the $4,000 level in the near term. However, with the ongoing U.S. government shutdown, the release of certain economic data could be delayed — which might affect short-term price action.

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Technical Outlook

Daily Chart
The bullish trend remains fully intact. Gold is in price discovery mode, operating near all-time highs. The $4,000 level is the next key area to monitor, aligning closely with the –100% Fibonacci extension near $4,046, which could serve as a potential magnet for buy-side activity.

4-Hour Chart
The 4-hour structure shows a clear ascending trendline guiding price upward. Strong resistance is currently visible near $3,900. A confirmed breakout above this zone could open the door toward $3,950. Conversely, if momentum fades due to a lack of new catalysts, price could retrace back toward the $3,800 support area.

1-Hour Chart
On the hourly chart, another bullish trendline supports the uptrend following a corrective pullback. Like the 4-hour structure, gold is now testing a key resistance zone. At this stage, it’s best to wait and see— either a clean breakout above $3,900–$3,950, or signs of rejection leading to a short-term correction.

Forecast: Personally, I think probabilities are more inclined to the upside for the upcoming week. We'll see.

Respect your plan. Wish you the best for the upcoming trading week!