{"id":23348,"date":"2025-11-07T06:31:48","date_gmt":"2025-11-07T06:31:48","guid":{"rendered":"https:\/\/www.maxainasia.com\/?p=23348"},"modified":"2025-11-07T06:31:48","modified_gmt":"2025-11-07T06:31:48","slug":"daily-commentary-295","status":"publish","type":"post","link":"https:\/\/www.meisheng.asia\/th\/daily-commentary-295-20251107\/","title":{"rendered":"GOLD aims for the $4,080 key resistance once again"},"content":{"rendered":"<ul style=\"color:#f40307\" class=\"wp-block-list has-text-color\">\n<li><strong>Gold buyers retake $4,000 in Asia on Friday, with eyes on flash US Michigan Consumer Sentiment data.<\/strong><\/li>\n\n\n\n<li><strong>US Dollar pauses its declines as risk-off flows negate the impact of government shutdown, renewed labor market woes.<\/strong><\/li>\n\n\n\n<li><strong>Gold\u2019s daily technical setup leans in favor of buyers as the RSI is back above the midline. \u00a0<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Gold is looking to find a strong foothold above the $4,000 threshold early Friday, with buyers returning in tandem with safe-haven flows.<\/p>\n\n\n\n<p>The focus now remains on the preliminary release of the University of Michigan (UoM) Consumer Sentiment data for a fresh take on the health of the US economy.<\/p>\n\n\n\n<p>Gold is drawing support from a generalized tepid sentiment toward higher-yielding assets, as risks of a protracted US government shutdown and weak US private labor data weigh on investors\u2019 confidence alongside persistent concerns over inflated technology stocks valuations.<\/p>\n\n\n\n<p>Global markets are following the resumption of the tech sell-off on Wall Street, particularly in the artificial intelligence (AI) stocks.<\/p>\n\n\n\n<p>Meanwhile, data published by the executive outplacement firm Challenger, Gray &amp; Christmas on Thursday showed that corporations announced a 183.1% monthly surge in layoffs, the worst October in over two decades, per Reuters.<\/p>\n\n\n\n<p>The latest jobs data refuelled concerns about the weakening US labor market conditions, slightly boosting the odds of a US Federal Reserve (Fed) interest rate cut next month to 69% versus a drop to 62% seen after the release of the US ADP Employment Change data.<\/p>\n\n\n\n<p>The US Treasury bond yields fell on weak US jobs data, helping Gold settle above the critical resistance near $3,975.<\/p>\n\n\n\n<p>The US Treasury bond yields continue to trade sluggishly early Friday, keeping the sentiment around the bright metal underpinned even as the US Dollar (USD) attempts a minor rebound.<\/p>\n\n\n\n<p>In the absence of the top-tier official US economic data publication, the private sector statistics and the broader market sentiment will continue to play a pivotal role in Gold price action.<\/p>\n\n\n\n<p>Additionally, the end-of-the-week flows will also be a key driver for Gold in the session ahead.<\/p>\n\n\n\n<h5 class=\"wp-block-heading has-vivid-red-color has-text-color has-small-font-size\">\u0e01\u0e32\u0e23\u0e27\u0e34\u0e40\u0e04\u0e23\u0e32\u0e30\u0e2b\u0e4c\u0e17\u0e32\u0e07\u0e40\u0e17\u0e04\u0e19\u0e34\u0e04\u0e23\u0e32\u0e22\u0e27\u0e31\u0e19<\/h5>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"364\" src=\"https:\/\/www.maxainasia.com\/wp-content\/uploads\/2025\/11\/image-1-1024x364.png\" alt=\"\" class=\"wp-image-23353\" srcset=\"https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/11\/image-1-1024x364.png 1024w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/11\/image-1-300x107.png 300w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/11\/image-1-768x273.png 768w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/11\/image-1-18x6.png 18w, https:\/\/www.meisheng.asia\/wp-content\/uploads\/2025\/11\/image-1.png 1536w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/figure>\n\n\n\n<p>The daily chart suggests that the near-term outlook for Gold appears neutral to bullish as the 14-day RSI regains the midline.<\/p>\n\n\n\n<p>The bullion closed Thursday above $3,973, the 38.2% Fibonacci Retracement level of the parabolic rise to the record high that began on August 19, reviving the bullish potential.<\/p>\n\n\n\n<p>Buyers now await acceptance the $4,000 mark to challenge the 21-day SMA at $4,080.<\/p>\n\n\n\n<p>Ahead of that resistance, strong offers will continue to lurk near the $4,050 psychological level.<\/p>\n\n\n\n<p>On the downside, Gold could find demand once again at the intermittent lows near $3,930, a break below which would expose the $3,900 figure.<\/p>\n\n\n\n<p>The next relevant supports are seen at the October 28 low of $3,887, followed by the $3,870-$3,850 demand area.<\/p>\n\n\n\n<p>That zone is the confluence of the 50-day SMA and the 50% Fibo level of the same ascent.<\/p>","protected":false},"excerpt":{"rendered":"<p>Gold is looking to find a strong foothold above the $4,000 threshold early Friday, with buyers returning in tandem with safe-haven flows. The focus now remains on the preliminary release of the University of Michigan (UoM) Consumer Sentiment data for a fresh take on the health of the US economy. Gold is drawing support from &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.meisheng.asia\/th\/daily-commentary-295-20251107\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GOLD aims for the $4,080 key resistance once again&#8221;<\/span><\/a><\/p>","protected":false},"author":5,"featured_media":17233,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-23348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-commentary"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/comments?post=23348"}],"version-history":[{"count":1,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23348\/revisions"}],"predecessor-version":[{"id":23354,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/posts\/23348\/revisions\/23354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/media\/17233"}],"wp:attachment":[{"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/media?parent=23348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/categories?post=23348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisheng.asia\/th\/wp-json\/wp\/v2\/tags?post=23348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}