XAUUSD: Gold Surges on U.S. Fiscal Reform Expectations

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Gold remains firmly within a short-term bullish structure after rebounding strongly from the $3,258 support zone and forming a consolidation pattern just below the $3,342 resistance. This area marks the confluence of a descending trendline and a fair value gap (FVG), where buyers may gather momentum to break through.

Fundamental news continues to favor the upside: concerns over the U.S. budget deficit and an upcoming tax reform package have boosted safe-haven demand for gold. Meanwhile, U.S. bond yields and the dollar remain low, further driving capital into precious metals.

Yesterday, gold rose by approximately $33.49, equivalent to 3,349 pips, confirming strong bullish inflows. If price breaks above the $3,342–$3,356 zone, the next target could extend beyond the $3,400 mark.

However, if short-term pullbacks occur, the $3,258 area remains a key support level to watch for potential bullish re-entry signals.

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