Gold (XAU/USD) has accelerated its recovery on Wednesday, favoured by a softer US Dollar as lower Oil prices and downbeat US macroeconomic data cooled market expectations of Federal Reserve (Fed) rate hikes on Tuesday. This has enticed Gold buyers to push the precious metal above the top of a triangle pattern, at the $4,125 area, in a move that is still to be confirmed. In this context, investors have cut back bets of a Fed rate hike in September to 58% from 67% on Tuesday, according to data by the CME’s Fed Watch Tool. A bearish reaction, on the other hand, is likely to find support at the $4,000 psychological level, although the key support area lies at the $3,945 area, the bottom of the mentioned triangle. A confirmation below here negates the bullish view and brings the late October 2025 lows, at $3,886, into play.