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データ基準日: 2026-10-09 · 決済基準: 取引所最終日次決済価格

Gold (GC=F) Deep Dive | Bullish Breakout Above 4202 | 2026-10-10

We maintain a Bullish call on Gold (GC=F) with an invalidation level at a daily close below 4170.37. The metal has stabilized after a sharp weekly decline, finding support near the 20-day pivot and rallying on the back of a weakening dollar and resilient ETF inflows. Technicals suggest a potential retest of the 20-day high at 4439.8 if the 4247.97 resistance is breached. While positioning remains crowded, the divergence between implied and realized volatility indicates market participants are pricing in significant downside protection, supporting a bullish bias. Supply-side data shows stable inventories, while demand from central banks and ETFs provides a solid floor. We target a move toward 4279.63 in the near term, with a stop loss placed beyond the S1 level to manage risk.