Gold hits all-time high of $4,601 - XAUUSD analysis for January 12, 2026

Gold Prices Break Through Historical Resistance - All-Time High Phenomenon Reflecting Market Anxiety

Exorres (XAUUSD) sets a new trading record this morning in the Asian market, soaring to touch $4,601 per ounce for the first time since records began. This is not merely a numerical anomaly but a clear signal that the global market is reassessing a new range of risk programs.

The main drivers behind this rapid increase come from two primary sources: first, political events causing uncertainty in the financial system; second, the monthly employment data released that exceeded market expectations. Both factors have led institutional investors to seek safe assets.

Three Key Factors Driving Gold Price Increases

1. Reaching the Psychological Resistance at $4,600

During the morning trading session, gold successfully broke through the $4,600 level, a significant psychological resistance. The bullish momentum remains strong, with the next target calculated at $4,620 based on technical indicators at the upper channel. The importance of this breakout lies not only in the number but also in confirming that buying pressure remains robust.

2. Crisis of Confidence in Financial Institutions and Its Impact on the Dollar

This week marked a pivotal moment—the Department of Justice began investigations into individuals leading the central financial agencies. While checks and balances are normal in the US system, the way this issue is presented may cause some market participants to worry about the independence of monetary policy decisions.

As a result, global institutional investors increased their gold holdings as a hedge against risks, since gold is an asset unaffected by counterparty default risk. This is a key fundamental reason.

3. Employment Figures Lower Than Expected

December employment data added 50,000 new jobs, below the market expectation of (60,000). Additionally, revisions to previous figures were downward, especially October, revised from -105,000 to -173,000 jobs. This indicates a more pronounced slowdown in the labor market than previously reported.

When the labor market weakens, the likelihood of central banks reducing borrowing costs during this year increases. Lower interest rates decrease the opportunity cost of holding gold (which does not yield interest), making gold more attractive.

In-Depth Analysis of Employment Figures

Nonfarm Payrolls are one of the most closely watched indicators because they reflect the overall economic health at the population level.

Concerning Facts:

Including revisions, the US labor market has shed over 76,000 jobs compared to the previous report. This is not a minor error but a significant adjustment.

Although the unemployment rate has decreased to 4.4%, the ongoing slowdown in job creation suggests the country is entering a clear economic deceleration phase.

Geopolitical Context: Global Uncertainty

Beyond internal US issues, international tensions are rising in several regions:

• Middle East: Ongoing conflicts with high risks
• Arctic Region: Power struggles in cold regions
• North America: Regional power tensions

When global uncertainty increases, gold returns as a market demand asset that remains unaffected over time.

Technical Analysis of Gold Prices

From a 4-hour chart analysis, the following observations can be made:

Trend Structure and Price Action:

Gold has continuously broken through multiple resistance levels. Notably, it broke past 4,555 to reach a new high of 4,601. The latest 4-hour candle shows a “Big White Candle” with a long body, indicating strong buying signals.

Technical Indicators:

• Stochastic RSI: In the Overbought zone, but when the trend is strong, the indicator often remains high without retreating.
• Moving Averages: The moving averages are aligned neatly, reflecting a powerful bullish momentum.

Trading Approach:

For existing long positions: it is recommended to move the stop-loss (Stop Loss) upward or use trailing stops (Trailing Stop) to lock in profits at around $4,550.

For those waiting for opportunities: avoid chasing the price directly at 4,601 due to the risk of a pullback. Instead, wait for the price to retrace to test the 4,555-4,560 level, then look for a bullish reversal candle, which would be a lower-risk entry point.

Outlook for the Next 24 Hours

Continued Uptrend (High Probability):

Prices may consolidate slightly within the 4,580-4,600 range to allow technical indicators to cool off, then a new buying wave could push through 4,601 to test the target of 4,620. Fundamentals remain supportive.

Correction Scenario (Correction):

If the price hits 4,620 and fails to break through, profit-taking pressure may cause a pullback to test the previous support at 4,551-4,555. This is a natural market correction and an opportunity for additional entries for buyers.

Sideways Market (Sideways):

The market may pause temporarily, awaiting upcoming CPI data releases next week. Price may fluctuate within 4,550-4,600 with uncertain direction.

Key Support and Resistance Levels

Support Levels:

• 4,551 dollars
• 4,520 dollars
• 4,500 dollars

Leading Resistance Levels:

• 4,600 dollars
• 4,610 dollars
• 4,620 dollars

Current XAUUSD analysis requires close monitoring, as both technical and fundamental factors are in a rapidly changing situation.