Gold market analysis

"Gold Price Short-Term Trend Lacks Direction and Is Weak" 24/11/2025 9:54 Completed 

As the US Department of Labor has announced that due to the shutdown, the October non-farm payroll report and CPI will never be released, and the November CPI will not have monthly change data either, the November non-farm payroll report will be delayed until December 16. As the next Federal Reserve interest rate meeting will be held on December 9 and 10, it is almost certain that the Federal Reserve will not cut interest rates at the next meeting. Therefore, it is believed that the gold price will remain sideways before the Federal Reserve's interest rate decision. Any rise or fall in the gold price caused by news or data other than interest rates and inflation will only be regarded as short-term impacts. Of course, I still believe that the adjustment of the gold price has not yet ended. 

The daily chart still shows a narrowing triangle. 

The current gold price remains within the range of $4,010 to $4,110. Looking at the daily chart, the highs and lows of the gold price over the past three trading days have both shifted lower. Last Thursday and Friday, it also briefly fell below the 20-day SMA (currently around $4,044.4). After opening nearly $10 higher this morning, it reached a high of $4,076.17 before retreating. It is currently supported at the psychological level of $4,050, but the 20-day SMA continues to be challenged. The overall trend of the gold price on the daily chart still shows a narrowing triangle. To turn upward, it must break through $4,245.2. If it falls below $3,886.49, it will form a downward channel pattern, further confirming a downward trend. 

From the hourly chart, the gold price has been roughly in a sideways pattern since the sharp drop on November 14th, with the main fluctuation range between 4110 and 4030 US dollars. However, it should be noted that after reaching a high of 4132.89 US dollars at 11 p.m. last Wednesday, the gold price closed in a bearish engulfing pattern. Since then, it has not touched that level again, and since the London close last Friday, it has twice shown a descending flag pattern. The intraday trend has been weak for the most part. It is expected that the gold price will still be centered around 4060 US dollars intraday, fluctuating between 4110 and 4010 US dollars. 

The above content is for reference only and does not constitute investment advice.