Gold Consolidation Above $4,000 Keeps Bulls in Control

11月7日

Gold continues to consolidate after recently crossing the key psychological level of 4,000, maintaining a bullish bias. The metal’s ability to hold above this zone suggests ongoing strength, with traders now focusing on the 4,032–4,065 resistance range.

On Friday, gold prices advanced as expectations for further Federal Reserve rate cuts increased and concerns over the U.S. economic outlook persisted amid the prolonged government shutdown Interestingly, both the U.S. dollar and gold are rising simultaneously — a sign that the traditional inverse correlation is weakening. This indicates that bullish sentiment in gold remains resilient, as buyers step in to prevent a sharp pullback.

Overall, gold appears to be in a consolidation phase above 4,000, with momentum building for a potential breakout. However, a decisive move above 4,065 would be needed to the next bullish leg higher.

You may find more details in the chart.
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11月9日

交易开始

1st Target almost reached