Gold market analysis

"Gold Prices Reach New Highs, Rekindling Hope" 26/11/2025 11:19 Finalized 

Gold prices retreated to $4,109.6 yesterday before resuming their upward trend, which was largely in line with the prediction that support would be found at $4,110. This morning in the Asian market, they broke through the $4,162.94 level, which was regarded as the target for the third wave of the upward trend since November 21st, as well as the 100% Fibonacci extension level measured from November 18th. The price reached as high as $4,168.7 this morning. 

The Federal Reserve is expected to be led by a dovish successor. 

One of the reasons for the upward break of gold prices is the growing expectation that the Federal Reserve will cut interest rates by 25 basis points in December. In addition, Kevin Hassett, the director of the White House Council of Economic Advisers, is seen as the most likely candidate to succeed Powell, who will step down in May next year. He has also stated that if he has the opportunity to serve as the chair of the Federal Reserve, he hopes to cut interest rates significantly. This news has given a boost to the gold price, which has been lacking direction recently. 

The target for the third wave's upward movement points to 4240. 

If we take November 18th as the starting point of the higher-level wave 1 and November 21st's low of $4,022.77 as the end of wave 2, and calculate the target of wave 3's rise as 1.618 times the length of wave 1, then the gold price could rise to $4,240. Regardless, $4,110 clearly becomes the key medium-term support level for the gold price, and the possibility of it falling below $4,000 has significantly decreased. If the gold price can rise to $4,240, it will have broken through the important resistance level of $4,210 at the 180-degree angle of Gann, thus paving the way for the gold price to move towards $4,310 and even break through $4,381 to reach a new high! 

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