Gold extended its decline for a third session, repeatedly meeting selling interest near $4,200 and staying trapped in a month-long range as markets weighed uncertainty over the Federal Reserve’s post-October path. CME FedWatch pricing still points to a 94% probability of a December hike, while the US Dollar firmed on higher Treasury yields and elevated oil prices, tightening financial conditions for USD-sensitive bullion. Risk sentiment also reflected civil unrest in parts of Europe, renewed tension involving the US and Iran, and threats around key shipping routes after Iran’s Islamic Revolutionary Guard Corps said Tehran has not fully closed the Strait of Hormuz and could widen disruption to Bab al-Mandeb and the Suez Canal. Separately, reports said Yemen’s Iran-backed Houthis launched attacks on Saudi energy, airport and military targets.
Attention also turned to whether US President Donald Trump’s waiver on Russian diesel exports will temper inflation concerns, alongside upcoming results from artificial intelligence bellwethers including Meta, Tesla, Lam Research and Texas Instruments. Technically, XAU/USD was cited at $4,144.18, below the 21-day SMA at $4,180.17 as well as the 100-day SMA at $4,235.25, the 50-day SMA at $4,321.96 and the 200-day SMA at $4,518.09; the 14-day RSI sat near 43.5. Key levels included resistance at $4,216.33, $4,308.50, $4,383.00, $4,457.50 and support at $4,067.33, $3,997.77 and $3,990.07, while official-sector demand was referenced via the World Gold Council saying the PBoC bought 23 tonnes in September, its largest since October 2023.
Official Sector Gold Purchases Overview
fns:web_search: official sector gold purchases central bank gold buying statistics WGC 2024 2025 2026
Central Bank Buying Trends and Statistics
fns:web_search: official sector gold purchases central bank gold buying statistics WGC 2024 2025 2026
