Key Highlights
- Gold started a fresh surge above the $4,450 resistance.
- The bulls could now aim for a move above $4,500.
- WTI Crude Oil prices started a recovery wave above $57.50.
- The US GDP could grow by 3.2% in Q3 2025 (Preliminary), down from 3.8%.
Gold Price Technical Analysis
Gold prices started a fresh rally above $4,400 and $4,420 against the US Dollar. It settled above $4,450 to enter a bullish zone.
The 4-hour chart of XAU/USD indicates that the price cleared a key contracting triangle with resistance at $4,330 to enter a positive zone. The recent rally pushed the price to a new all-time high at $4,490 on TitanFX.
On the upside, immediate resistance is near the $4,490 level. The next major resistance sits near the $4,500 level. A clear move above $4,500 could open the doors for more upside. In the stated case, the bulls could aim for a move toward $4,550.
If there is a pullback, Gold might find bids near the $4,450 level. The first major support sits at $4,420, below which the price might slide to $4,400.
The main support sits at $4,350. Any more losses might call for a test of the 100 Simple Moving Average (red, 4 hours) or even the 200 Simple Moving Average (green, 4 hours).
Looking at WTI Crude Oil, the price started a recovery wave above $57.50 and might aim for a move toward the $60.00 hurdle.
Economic Releases to Watch Today
- US Gross Domestic Product for Q3 2025 (Preliminary) – Forecast 3.2% versus previous 3.8%.
- US Durable Goods Orders for Oct 2025 – Forecast -1.5% versus +0.5% previous.
