Gold prices continued their steady rise in Asian trading, breaking through the $4,000 mark. The US government shutdown has entered its 33rd day, with Congress deadlocked over a Republican-led appropriations bill. Despite Trump's call to end the shutdown by repealing Senate obstruction rules, the Republican leadership has not yet adopted this approach, further supporting gold prices.

Last Wednesday, the Federal Reserve cut interest rates by another 25 basis points and announced that it would stop shrinking its balance sheet in December, marking the end of the quantitative tightening cycle. However, Chairman Powell warned that another rate cut in December is not a certainty.

Several Federal Reserve governors further dampened market expectations for further easing by the end of the year. This strengthened the dollar and limited the short-term upside potential for gold.

Wall Street commodity strategist Lisa Chen noted, "The continued strength of the US dollar will put pressure on non-yielding assets such as gold, but safe-haven demand and geopolitical uncertainty will continue to support gold prices."

From a technical perspective, gold remained resilient below the 100-hour simple moving average during the Asian session. Daily and hourly indicators show that the oscillator is showing signs of renewed upward momentum, supporting further gains.

If gold prices break through the $4,050 resistance level, the next resistance level could be $4,075, after which it may challenge the $4,100 mark.

Conversely, short-term support lies around $3,963, with further support at $3,917 and the psychological level of $3,900. A break below $3,886 could accelerate the decline to $3,850, and further test the support zone of $3,800 and $3,765-$3,760.

"If gold prices continue to hold above $4,000, there is still considerable room for a short-term rebound," said Kenji Tanaka, a precious metals analyst in Tokyo. "However, the market still needs to pay attention to the dollar's performance and changes in geopolitical factors."

Editor's Note:

Gold's short-term rebound is supported by safe-haven demand and policy uncertainty, but a strong dollar and optimistic stock market sentiment may limit further gains. Technically, $4,045-$4,050 is a key resistance level; a break above this level could trigger a test of the $4,075-$4,100 range. Investors should closely monitor US economic data and speeches by Federal Reserve officials when establishing long positions to capture short-term trading opportunities.