Gold Analysis 11/12: Performance Stabilizes (Chart)

(MENAFN- Daily Forex) Today's Gold Analysis Overview:

• The overall of Gold Trend: Still bullish.
• Today's Gold Support Points: $4150 – $4110 – $4070 per ounce
• Today's Gold Resistance Points: $4240 – $4280 – $4340 per ounce

Today's Gold Trading Signals:

• Sell gold from the resistance level of $4300 with a target of $4060 and a stop-loss at $4340.
• Buy gold from the support level of $4120 with a target of $4300 and a stop-loss at $4070.

Technical Analysis of Gold Price (XAU/USD) Today:

Gold prices have remained relatively stable following the US Federal Reserve's interest rate cut, as expected, without any promise of further reductions in the coming months. This has left gold investors uncertain about whether to buy or sell. On gold trading platforms, the gold index has been trading within a range between $4182 per ounce and the resistance level of $4219 per ounce. At the start of Thursday's session, gold rose to the resistance level of $4247 per ounce, indicating that the upward trend remains intact and technical indicators confirm the bulls' control.

The 14-day Relative Strength Index (RSI) reading is 61, just a few steps away from the overbought zone. At the same time, the MACD indicator lines are in an upwardly biased range. According to gold trading on the daily chart, the psychological support of $4000 per ounce remains the most important level to confirm the start of a real bearish reversal in gold prices. This is contrasted by the psychological resistance of $4400 per ounce, should the factors supporting the yellow metal's gains continue. These factors include record central bank purchases of gold tons, the high demand for gold as a safe haven, and the shift of global central bank policies toward further easing, led by the US.

Recently, strong official demand has remained a significant structural support, with China increasing its reserves for the thirteenth consecutive month. Central banks have generally remained net buyers, while stable inflows into exchange-traded funds (ETFs) and strong physical gold purchases in Asia have continued to absorb available supply. Meanwhile, the decline in the US dollar following the decision has reinforced the usual inverse relationship between US Treasury yields and gold. Lower interest rates typically favor non-income-generating assets like gold.

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We still recommend the strategy of buying gold on every significant price dip. Let's not forget that the gold market recorded gains of 60% in 2025, and the outlook for the metal is bright in the new year Market After the Federal Reserve Announcement

The gold market is experiencing renewed momentum following the Federal Reserve's cut in US interest rates after its latest monetary policy meeting, although it did not signal any aggressive monetary easing until 2026. Despite the fluctuating interest rate expectations over the past month, the Fed's 25 basis point cut to the federal funds rate – bringing it to a range of 3.50% to 3.75% – was in line with current market expectations.

EURUSD Chart by TradingView

The gold price saw volatile trading in its initial reaction to the Fed's policy move. Spot gold reached $4205 per ounce, showing little change from the previous day. The US central bank offered little forward guidance, as its statement showed little change from the October meeting. The US monetary policy statement read: "Available indicators suggest that economic activity is expanding at a moderate pace. The pace of job gains has slowed this year, and the unemployment rate has risen slightly through September. More recent indicators are consistent with these developments. Inflation has increased since the beginning of the year and remains somewhat elevated."

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