precious metals

The Nasdaq and S&P 500 outlook hinges on oversold signals after AI data center fears reversed early post-election gains while silver rebounds.

Gold has held above $4,000 despite a much stronger-than-expected October jobs report. Fawad Razaqzada explains why lower yields and the tech sell-off have supported the metal, and why next week's US CPI could decide its next move.

Recent trading sessions have not been particularly favorable for gold in the short term. XAU/USD has fallen nearly 2.5% over the last three sessions, reflecting that selling pressure is once again gaining relevance and that the metal continues to struggle to regain momentum.

Silver is testing key support at $49 to $50, the area of its 2011 high, and has yet to bounce. A bullish reversal candlestick would make the picture more constructive, but for now the near-term forecast hangs in the balance.

Dollar, Gold Outlook: The dollar is testing a critical 10-month trendline, while gold is challenging its 2026 low and support near $3,870. The U.S. elections, nonfarm payrolls and bond yields are key volatility catalysts to watch this week.

The U.S. Dollar Index, commodities, indices and cryptocurrencies are testing key levels as markets navigate the U.S. midterm elections, U.S.–Iran negotiations and key economic releases.

Gold has started the first week of the new month trying to recover some ground after another bruising week. Oil prices have taken a sharp drop and that has allowed risk assets to bounce back, which has clearly helped the precious metal too. However, with sentiment remaining bearish towards the metals, and with $4000 level having been taken out last week, the path of least resistance is to the downside for gold.

After a three-day recovery, gold prices have fallen in excess of 1.2% so far today, as the metal continues to hover around the $4,000 level. Today’s bearish price action threatens this key level, especially when you consider last week’s 4% sell-off. For now, gold is hanging around this psychological threshold, but it remains to be seen whether it will hold for too long.

Gold forecast hangs in the balance as the metal is clinging to $4,000 ahead of the Fed, but higher oil prices and firm yields are making it hard for the metal to turn its rebound into a sustained rally. But can that change soon?

Over the last few trading sessions, gold has managed to stage a modest recovery. The precious metal has gained more than 1.7% across the last two sessions, a move that has introduced some buying momentum after several weeks of sustained pressure on prices. For now, this rebound appears to be driven largely by the cautious atmosphere dominating markets ahead of the Federal Reserve's monetary policy decision.

Silver is showing some encouraging signs after an initially weak start to the session. The metal dropped to a new year-to-date low below the $53 handle, reaching $52.60 before staging a sharp recovery.

Gold has started the week trying to stabilise around the $4,000 level after last week’s 4% drop that saw the metal briefly drop and close below this psychological hurdle.