Good morning. About half of all the gold ever mined, roughly 100,000 metric tons, comes from just three countries: China, Australia, and South Africa.
No wonder traders call gold “universal money.” It’s dug up everywhere, but valued the same in every chart.
-Shaun A, Jonathan Kibbler, Jordon Mellor
MARKETS
How’s your favorite today?
Prices supplied by Google Finance as of 4:00am ET - stock prices as of close. Here is what the prices mean.
TRADER INSIGHTS
History Made: Gold Breaks $4,000 for the First Time
Gold finally did it, it broke the $4,000 mark for the first time in history.
Watching that candle print felt surreal. For weeks, the structure hinted this breakout was coming, higher lows, clean rejections, and a steady grind through resistance. But now that we’re here, the real question is: does the rally have more fuel, or are we due for a breather?
Here’s what you need to know:
1. Fundamentals Still Favor the Bulls
The stars keep aligning for Gold.
Ongoing U.S. government shutdown risks, political uncertainty in Europe, and Japan’s pro-stimulus stance have all combined to push investors into safer assets. On top of that, the market is pricing in two more Fed rate cuts this year, October and December, which has kept the U.S. dollar capped and added to the bullish tailwind for XAU/USD.
Even as the U.S. economy wrestles with delayed data and policy confusion, global risk sentiment remains fragile. Every headline about gridlock in Washington or drone strikes in Eastern Europe adds another layer of demand for Gold’s stability.
2. Technicals: Bulls Still in Control, but RSI Screams ‘Caution’
Technically, Gold’s rally is still intact and clean. The breakout above $3,900 last week triggered a new wave of momentum buying, with price now hovering near $4,030 and testing fresh all-time highs.
However, the daily RSI sits above 70, flashing overbought conditions. That doesn’t mean a reversal, but it does hint at potential cooling. A pullback toward $3,950–$3,900 wouldn’t surprise me and honestly, it’d be healthy. That zone aligns with the short-term moving averages, offering a potential buy-the-dip opportunity before another leg higher toward $4,050–$4,100.
For me, this is one of those moments where patience pays more than prediction. I’d rather wait for a clean retest before jumping in again.
My Takeaway
When markets make history, emotions spike, traders chase, FOMO kicks in, and discipline slips. But Gold at $4,000 isn’t just a number; it’s a psychological level that’ll test conviction on both sides.
Personally, I’m waiting for structure to confirm, a dip toward support before rejoining the trend. The macro backdrop still screams bullish, but even the strongest rallies need to breathe.
Gold may have conquered $4,000, but the next battle is holding it.
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MARKET ANALYSIS
Canadian Data Screams Slowdown
The Canadian economy can't seem to catch a break. Crashing job numbers and falling retail sales figures paints an ugly picture as of right now.
But what does this mean for us?
Employment Shock: Canada Loses 65.5K Jobs
Canada’s most recent employment change figures came in at -65.5K, wildly missing the forecast of +4.9K. This is not just a weak number, it's a significant shift in labour market conditions.
Alongside this the Unemployment rate rose to its highest level in 4 years at 7.1% with expectations of a further increase.
A shrinking jobs market puts pressure on consumer spending, slows growth, and increases the probability of rate cuts from the Bank of Canada.
Consumers are struggling
Recent figures from September indicate that consumer spending is falling.
Retail Sales: -0.8%
Core Retail Sales: -1.2%
These numbers confirm what the labour market hinted at, that consumers are under pressure, and it's now showing in spending.
Combine weak job data + falling sales = a bearish CAD narrative.
It doesn’t end there, many other data points point to a Canadian economy that is weak.
What can we do about it?
Trade Bias: Bearish CAD
The macro setup and sentiment both point to CAD weakness.
Watchlist Trade Setups:
AUD/CAD Long: Strong Aussie is one we can target for longs against the Canadian dollar.
USD/CAD Long: US data has been strong, yields are rising, and seasonality supports USD strength.
CAD weakness may persist if October inflation or employment data misses again. Watch for dovish BoC rhetoric to confirm.
Again these views are my own and not trading advice, please make sure you do your own research before making any trading decision.
CHART BREAKDOWN OF THE DAY (BTC/USD)
BTC/USD is trading around 122.6K after a sharp rally that briefly pushed above the key 125K resistance zone. The pair remains well-supported by the 50-day and 200-day SMAs near 114K–115K, and the broader uptrend structure is intact. However, with momentum cooling near resistance, short-term consolidation or a pullback toward 120K can’t be ruled out before bulls attempt another breakout toward 126K–127.5K.
DAILY TRADING PSYCHOLOGY NUGGET
“Overtrading is just impatience wearing a trader’s mask.” Taking too many setups doesn’t mean you’re productive, it means you’re chasing action instead of waiting for edge. Real pros know that sitting on their hands is often the most profitable move of the day.
TODAY’S MOST TRENDING MARKET NEWS (OCTOBER 8, 2025)
credits: getty images
The Bank of England issued a stark warning that soaring valuations in AI-related stocks may be setting the stage for a sharp market correction, citing stretched credit spreads and weakening buffers in its latest financial stability report. (source:bloomberg)
GAMES
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ANSWER
Answer: Risk-to-Reward Ratio