Today’s Gold Analysis Overview:
- The overall of Gold Trend: Strongly Bullish.
- Today’s Gold Support Points: $4200 – $4160 – $4090 per ounce.
- Today’s Gold Resistance Points: $4290 – $4340 – $4400 per ounce.
Today’s Gold Trading Signals:
- Sell gold from the resistance level of $4300 with a target of $4060 and a stop-loss at $4360.
- Buy gold from the support level of $4140 with a target of $4300 and a stop-loss at $4100.
Technical Analysis of Gold Price (XAU/USD) Today:
The positive momentum in the gold trading market has returned, and consequently, gold prices have moved to break through the important resistance level of $4220 per ounce. It has been frequently noted that this area will be crucial for further strength in the gold bulls, thus preparing for new record highs. At the beginning of the trading week, gold prices jumped to the resistance level of $4256 per ounce, the highest level in two months, and are currently hovering around $4232 per ounce at the time of writing.
Technical Indicators Confirm the Strength of the Trend Line
According to recent performance and gold analysts’ forecasts, the upward trend line for gold is gaining strength. A break above the $4220 resistance, if the factors driving the gains continue, could push gold prices to their all-time high of $4382 per ounce, recorded last October. At that point, the most important resistance levels would be $4420 and $4500 per ounce, respectively. This paves the way for resistance at $5,000 per ounce in 2026. With the recent gains, the 14-day Relative Strength Index (RSI) has moved to a reading of 64, the closest point to the overbought line of 70, and at the same time, the MACD indicator lines are also steadily trending upwards.
Conversely, on the same timeframe, the psychological level of $4,000 remains a crucial point for bears to begin controlling the direction of gold.
Trading Tips:
You can consider selling gold at various levels without risk, anticipating the start of profit-taking.
Reasons for the Rise in Gold Prices
According to performance across licensed trading platforms, gold prices have risen sharply due to increasing investor expectations of a US interest rate cut by the Federal Reserve in December 2025, despite the positive signals following the end of the Russian-Ukrainian war, which had reduced gold’s appeal. In last week’s trading, the price of gold rose by 3.4%.
Compounding the recent confusion in the gold market, a technical glitch at the Chicago Mercantile Exchange (CME) briefly disrupted trading in futures markets.
On the economic front, the US Bureau of Labor Statistics recently released its September jobs report. The data revealed a mixed picture of the labor market. The unemployment rate rose to 4.4%, while job growth reached 119,000 – the strongest since April.
On the US monetary policy front, President Donald Trump has explicitly declared his desire for a low interest rate regime multiple time. Previously, Trump urged Treasury Secretary Scott Bisnett to fix the “very high” interest rates, joking that he would fire Bisnett if he did not comply. Among the Federal Reserve Board of Governors, Michelle Daly, Christopher Waller, John Williams, and Stephen Miran recently indicated the necessity of cutting interest rates before the end of the year. Other Fed officials have been more ambiguous, while some, like Susan Collins, have advocated for keeping interest rates unchanged.
Regarding who will head the US Federal Reserve in the future, Bloomberg reported a few days ago that Kevin Hassett is the most likely candidate to succeed Jerome Powell as Fed Chair when his term ends in May. These developments have generally reinforced traders’ expectations that the Fed will cut interest rates in December.
On the geopolitical front, the nearly four-year-old war between Russia and Ukraine is intensifying, with Russia continuing its relentless aggression. Currently, the Russian army is advancing in eastern Ukraine. To stop the war, the Trump administration has put forward a new ten-point plan, which Ukrainian President Volodymyr Zelensky has officially accepted, although he wanted to address some minor points in the proposal and is prepared to discuss them with Trump.
Overall, these developments have fueled investor expectations of a possible end to the war soon, leading to a decline in demand for gold as a safe haven. Nevertheless, continued central bank gold purchases and expectations of interest rate cuts have supported gold prices.
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