Gold Surges Above Expectations, Reaches 5-Week Highs!GoldOANDA:XAUUSDKevinn_Nguyen👋Hello everyone, let’s take a look at XAUUSD ! 📍Gold continues its impressive rally, even surpassing our previous expectations and reaching the highest levels in 5 weeks. Currently, the bullish momentum is intact, trading around $3412 and surpassing the key psychological level of $3400, gaining over 300 pips from the previous session. The recent surge in gold is largely driven by concerns over the Fed. Pressure from Trump is fueling speculation that the central bank could cut rates faster and keep them low for a longer period. The CME FedWatch tool shows that investors now expect an 87% chance of a rate cut in September, which is beneficial for gold prices. 📈From a technical perspective: Gold has broken through the $3400 level and closed clearly above the resistance, turning it into new support. The EMA 34 and 89 still favor the bulls, and our strategy will prioritize selling at the top and continuing to buy as long as support holds. The target for the strategy is $3430–3433 USD (D1 resistance). What do you think💬? How will gold move, and what will the price be at the close today? ✍️ Leave your thoughts in the comments!