Gold market analysis

"Gold Price Intraday Adjustment Target: $4,072" 11/11/2025 9:59 Completed 

Yesterday, the spot gold price broke through the top of the horizontal range on the hourly chart and rose repeatedly. This morning, it reached a high of $4,141.03 before slightly pulling back. From the daily chart, the gold price has returned above the 20-day SMA ($4,081.6). The high even broke through the 50% retracement level of the largest decline since the record high on October 20, which is $4,134. The gold price is now at a critical juncture. If it can hold above $4,134.04 smoothly or even rise further to the 61.8% retracement level of $4,192.42, the possibility of the gold price challenging the historical high cannot be ruled out. 

In the short term, the fluctuation range of gold prices has shifted upward to between $4,110 and $4,160. However, $4,160 is not a significant resistance level. $4,210 is at a 180-degree angle. For gold prices to reach this target, they must first break through the previous double top neckline on the hourly chart at $4,186 and $4,192.42. Therefore, even if gold prices break through $4,160, the resistance they encounter in further climbing will be greater. 

The end of the suspension is not favorable for gold prices. 

The US Senate passed a temporary funding bill through a procedural vote, extending federal government funding until January next year. The end of the shutdown effectively boosted market confidence, causing the safe-haven role of gold in this regard to disappear. Of course, the market still has plenty of reasons to find other risk factors to continue pushing up the gold price. For the time being, the gold price touched $4,141 and then fell in a double top pattern on the 1-minute chart, hitting a low of $4,132.12 before rebounding. The subsequent rebound failed to reach the 20SMA (4138) on the 1-minute chart and further dropped to $4,130 before seeing a strong rebound and breaking above the 20SMA. However, as emphasized yesterday, be cautious of a correction wave in gold prices today. Nevertheless, it is still expected that $4,000 will be a strong support level, with a 50% retracement target at $4,072.85. 

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