Gold Reclaims $4,100: Two Critical Obstacles Ahead of the Rally

Gold rose back above the $4,100 level on the morning of November 9 following strong US employment data. This development reflects the precious metal's short-term recovery effort. While Iran talks pushing oil prices lower are changing risk perception in commodity markets, the rising probability of a Fed rate hike is putting pressure on gold. Investors maintain a cautious stance against uncertainties in monetary policy. Market participants are closely watching critical price zones and tomorrow's inflation data. The inflation data could shape expectations regarding the Fed's interest rate decision and may be decisive for gold's direction. Gold's reclaiming of $4,100 is seen as an important threshold for the continuation of upward momentum. However, rate hike expectations and volatility in oil prices stand out as two critical obstacles ahead of the rally. Not investment advice.

📊 GLD — Piyasa Yorumu

▲ up · 55%

Gold's recovery of $4,100 provides a positive short-term momentum signal; the latest close at 4,119 and a 24-hour change of +1.57% support this view. RSI at around 56 remains well away from overbought territory, suggesting there is still some room to the upside. However, MACD remaining below its signal line indicates that momentum has not yet been fully confirmed. Since the article's reference to 'two critical barriers' points to resistance zones, the upside may remain limited. Therefore, although I see the direction as upward, I am keeping confidence at a moderate level.

RSI 14

56.4

MACD

1.79

24h Δ

1.57%

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