Gold has delivered a strong impulsive move higher, breaking out of the corrective structure that dominated price action through July.

The latest advance has shifted momentum firmly in favour of buyers. While a short-term retracement could develop following such an aggressive move, the broader structure suggests this may simply provide the foundation for another bullish extension.

Our primary scenario remains for gold to continue higher after any corrective phase, with the developing structure potentially opening the way toward the 4,450 region and beyond.

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