Mohammad Hamzeh
@wexway
United Arab Emirates
$GOLD Gold Around $4,000 — Stable but Waiting for Direction Gold is holding steady near the $4,000 level per ounce, showing no strong direction for now. On Thursday, prices reached $4,019 but could not close above it, and on Friday they again tested the key levels of $3,986 and $4,000 without success. The main support for gold comes from a weaker U.S. dollar, as traders expect the Federal Reserve to cut interest rates in December. However, this support remains limited and not enough to trigger a strong rally. Technically, a weekly close above $4,000 would be the first positive signal, opening the door toward $4,046 and $4,075. But if prices fall below $3,964 or $3,948, it could lead to a decline toward $3,900. At the moment, indicators are mixed: momentum is weak, the stochastic is rising, and RSI is neutral. This combination reflects a waiting market — steady, but still searching for its next move.
Not investment advice. The author may have financial interests in the mentioned instruments.
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GOLD
Gold (Non Expiry)
4359.23
21.00 (0.48%)
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