Gold market analysis

"Gold Price Struggles to Hold Above $4,310" – Completed on 11/9/2026 at 11:07  
The U.S. August PPI indicates worsening inflation, and with crude oil rising above $100 per barrel, the overall CPI inflation rate in September is expected to climb further. However, as the Federal Reserve meets next week to decide on interest rates, we are currently in a blackout period during which Fed officials cannot publicly express their views. Given that leading indicators suggest deteriorating inflation, market focus has shifted beyond today’s release of the September CPI data. For gold prices, unless the CPI inflation rate shows a significant slowdown, the Gann 225-degree angle at $4,310 will face downward pressure.

It's important to note that the relatively stronger support level lies at $4,210. Even if gold briefly tests above $4,310 today, it would be difficult to trigger a strong rebound. Personally, I expect gold to remain anchored around the $4,310 level before the U.S. releases its August CPI data, making a move above $4,360 unlikely. Taking the midpoint between these two levels as resistance, $4,335 represents a key resistance zone. A potential rebound may not occur until next Tuesday, but only if the Fed maintains current interest rates. Should the Fed announce an interest rate hike, gold could drop toward $4,210 before stabilizing temporarily.

On the hourly chart, gold has approached the neckline of a head-and-shoulders top pattern, with two key levels at $4,311.26 and $4,282.67. If either of these levels breaks, the projected decline could range from $380 to over $400, meaning gold might fall below $3,900. In times of risk, opportunities also emerge. Strategically, $4,210 remains a strong support level; approaching this point, investors should consider building long positions while setting stop-loss orders. In the short term, selling is advisable when gold rebounds to $4,335–$4,350, with a stop-loss placed above $4,360. The target for such a trade would be $4,310.

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