Gold is expected to test the 3850 GoldOANDA:XAUUSDChristMarcusLast week, the Gold market exhibited the characteristics of "a rally with a breakout + high-level consolidation": Gold approached the 3800 mark at one point last week. Despite pullbacks during the week, it maintained an overall strong trend and remained firmly above 3750 by last Friday. Next week, gold is likely to maintain a pattern of "consolidating within the 3750-3820 range while waiting for a breakout opportunity". If policy signals become clear or geopolitical risks escalate, gold is expected to test the 3850 level; if expectations of interest rate cuts cool further, it may dip to test the support at 3720.