#SpotGoldHitsaNewHigh

Market Overview: Testing the $5,000 Milestone
The gold market begins the final week of January 2026 in a "wait-and-see" mode after surging 12% in just the first three weeks of the year. While the structural bull market remains firmly intact—with Goldman Sachs recently raising its year-end target to $5,400—the immediate path is characterized by a battle between technical overextension and relentless fundamental demand.

Key Drivers for Next Week
Macroeconomic Data: Investors are closely monitoring upcoming U.S. GDP data and inflation metrics to gauge the Federal Reserve’s next move. Any signs of "less easing" than expected could provide a temporary headwind for bullion.

Central Bank Activity: Emerging market central banks continue to diversify away from the U.S. dollar at a pace of roughly 60 tonnes per month, providing a hard floor for price pullbacks.

Geopolitical Resilience: Despite minor de-escalations in certain regions, ongoing tensions and global policy risks under the current U.S. administration remain the primary catalysts for safe-haven inflows.

Technical Zones to Watch
Support: The first line of defense sits at $4,762. A deeper, healthy correction could see prices test the $4,650 zone.

Resistance: Bulls are eyeing a sustained break above $4,882. If cleared, the psychological barrier of $5,000 becomes the immediate target for the coming days.