Gold market analysis

Gold prices are expected to fluctuate within a narrow range on the day. 27/11/2025 10:08 Finalized. 

Yesterday, the gold price was extremely volatile. From the Asian session to the close of the London market, it first rose and then fell. It reached a new daily high of $4,173.26, then plunged sharply to a low of $4,136.72 before climbing again. However, the highest it reached was $4,171.76, after which it entered a sideways consolidation. This morning, in the early Asian session, it broke below the New York midday low of $4,158.05, hitting a low of $4,148.99 before rebounding. It is currently fluctuating in a narrow range around $4,150. 

$4,170 is the double top resistance. 

Judging from the hourly chart, the gold price has formed a double top pattern above $4,170. The neckline support can be regarded as $4,136.72. The rebound high this morning at $4,156.49 is only about $1.5 away from the low of yesterday's New York midday session at $4,158.05. However, it has not been able to break through this level and has turned downward again, indicating that $4,158.05 or $4,160 (one of the Gann Square levels) is the intraday resistance, but not a strong one. If $4,158.05 is considered as another double top neckline, then the first intraday support level for the gold price would be $4,144.34, and $4,136.72 would be an important support. 

The 50-hour SMA must not be violated. 

Gold prices exhibited unusually volatile performance yesterday, which may be related to the approaching Thanksgiving holiday. The key level to watch for now remains the previous horizontal resistance zone top at $4,132.89 on the hourly chart, which is considered a crucial support for this uptrend. If this level is breached, gold prices are likely to return to the range of $4,000 to $4,100, seeking a new breakthrough. Looking at the hourly chart again, gold prices have fallen below the 20SMA ($4,160.83), but still hold above the 50SMA ($4,147.8). If gold prices fall below the 50SMA and fail to rebound above it, there is a tendency for further adjustment within the day, with the aforementioned price range serving as support. Gold prices are expected to fluctuate mostly between $4,135 and $3,175 within the day, and the possibility of a strong trend market is not high. 

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