Gold market analysis

Gold prices are expected to remain under pressure intraday. 14/11/2025 9:46 Finalized. 

US President Trump signed a funding bill to provide funds for the federal government until January 30, 2026, ending the 43-day shutdown. However, this was expected. To exaggerate a bit, from the first day of the shutdown, the market expected it would not last for a long time, such as a year. Nevertheless, the shutdown led to many economic data not being released. The White House stated that the October non-farm report and consumer price index might never be released. Of course, without conducting statistics due to the shutdown, how could there be any data to release! 

On the other hand, the US stock market plunged last night. One of the reasons was that the valuation of the AI industry was too high. Also, a series of economic data were released simultaneously after the government resumed normal operations. The possibility of the Federal Reserve cutting interest rates in December has decreased, causing uncertainty about the future. Moreover, it is the fourth quarter and Thanksgiving is approaching. All these factors led to a profit-taking sell-off in the US stock market. To me, this was expected. I can only say, "Finally, it's here!" Virtual currencies also dropped sharply. Bitcoin fell below the $100,000 mark. The price of gold also plunged sharply last night, with spot gold hitting a low of $4,145.59. It then gradually recovered and reached a high of $4,189.88 in the early trading in Tokyo today. However, it dropped again later. 

The safe-haven role of gold is under consideration. 

Now is the moment to test whether gold can still serve as a safe-haven asset in the financial market regardless of its price level. In the past, it could when the price was relatively low. But can it still do so when the 9RSI on the monthly gold price chart exceeds 95? Or will it be cashed in at the peak as well? The answer will soon be revealed! 

Support will only be provided when the lowest price reaches 4046. 

Gold prices plunged sharply in the New York midday session yesterday, immediately expanding the daily range to nearly $100. Although gold prices reached a high of around $4,245 yesterday and fluctuated mostly between $4,210 and $4,260 for most of the day, the sharp drop pushed them back below the strong resistance level of $4,210. Despite a significant decline in the US stock market last night, gold prices did not rise significantly. Instead, after approaching $4,190, they formed a small double top and retreated. In the short term, gold prices showed a single-day reversal yesterday, and it is expected that they will continue to be under pressure today. 

Using the Fibonacci extension line to measure the movement since yesterday's high, the short-term target for a decline is $4,098.61. If the movement since October 28 is regarded as waves 1, 2, and 3, and assuming wave 3 has ended, the maximum adjustment range suggests a decline target of above but close to $4,046.21. From the perspective of Gann's square, the gold price is likely to fluctuate within the range of $4,210 to $4,160 at most. 

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