iShares Gold Trust

IAU

Market cap $50.2B

Gold price breaks key resistance as inflation data fuels Fed rate cut bets. XAU/USD eyes all-time high with DXY weak and ETF inflows rising.

Leveraged funds soar. They're up triple digits.

Gold broke out above $3,439 Friday, reaching $3,450 and signaling growing demand. A sustained push above $3,500 would confirm bullish momentum toward record highs.

Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.

Weak dollar and strong pullback of U.S. equity indices provided support to gold markets.

After surging to an all-time high of $3,500 per ounce in April, gold has cooled off, building a narrow base between $3,200 and $3,400. Rather than signaling exhaustion, this consolidation has formed an ascending triangle, a pattern that often precedes an upside breakout.

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.

The gold market drifted a little bit lower in the early part of the Friday session but still looks strong overall. However, there is an obvious ceiling near the $3500 level, and therefore we have a fight on our hands.