$XAU 2026 Market: A Slow Bull Pattern Amid High-Level Fluctuations
Currently, gold prices are at historic highs, with short-term potential for fluctuations and corrections. However, the medium to long-term bullish logic remains unchanged, driven by four main factors:
First, the Federal Reserve's interest rate cut cycle, with declining real interest rates continuing to enhance gold's relative returns. The high negative correlation with the actual U.S. Treasury yield of -0.89 indicates that an easing cycle is favorable for gold prices;
Second, the acceleration of de-dollarization trends, with