As we predicted, the gold price index is testing the historic psychological resistance of $4000 per ounce. According to gold trading platforms, spot gold prices rose today, Wednesday, October 8, 2025, to the resistance level of $4040 per ounce, the highest in the history of gold prices. Recently, factors contributing to gains in the gold trading market have increased. The most prominent of these currently are the continued US government shutdown, political turmoil in France, economic concerns in Japan and Argentina, the ongoing war between Russia and Ukraine, and further purchases of gold bullion by central banks. These factors are sufficient for gold bulls to advance further, ignoring, as I have mentioned before, that all technical indicators have reached extreme overbought levels.
XAU/USD Gold Price Analysis Today: Gold Trading Breaks a Key Barrier, Eyes on Federal Reserve Minutes – 08 October 2025
