FPG November 4th Gold Market Alert

Gold held at $2,736 an ounce due to Fed policy and political uncertainty – XAUUSD H4

Gold prices held steady at $2,750 an ounce on Friday, maintaining a nearly 1.5% pullback from the previous session. Markets continue to assess safe-haven demand as the U.S. election approaches and focus on the Fed’s policy outlook. The latest U.S. non-farm payrolls data reflected a near-stagnant job growth in October, after the market expected more than 100,000 new jobs. Although the data was affected by events such as strikes and hurricanes, resulting in a lack of a full picture of economic trends, it still suggests that there are signs of a slowdown in the US labor market.

At the same time, political uncertainty in the US continues to support gold, especially as the prospect of a possible return to the presidency of Trump has triggered expectations of expansionary fiscal policy and higher tariffs, leading investors to use gold as a hedge against long-term inflation risks. In addition, persistent tensions in the Middle East have also added to gold’s safe-haven appeal.

Market Directional Preference: Neutral Bias

Gold’s price remains supported by political risks and safe-haven demand, but short-term volatility is likely to increase due to changes in the Fed’s policy outlook. The future trend of gold will depend on the release of more economic data and further clarity on policy signals, which is expected to challenge the key level of $2,758.

$2,770 above the first line of resistance, $2,790 of the second line of resistance above,
The first line of support below is $2,758, and the second line of support below is $2,730.

Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. All investments involve risk and past performance is no guarantee of future results. Please consult your financial advisor for personalized investment advice.