

October’s close finds gold prices stabilizing near the critical $4,000 per ounce level, marking a major inflection point after a period of volatility.
This stability follows two key macro events: the US–China trade truce and the Federal Reserve’s second rate cut of 2025. On October 30, the Fed reduced its benchmark rate by 25 basis points to 4.75%–5.00%, while signaling a data-dependent path forward. However, Chair Powell’s cautious comments led to a significant rebound in US 10-year Treasury yields to 4.10% and a strengthening of the DXY to $99.78$. This created a paradox: while the rate cut would typically boost gold, the firmer dollar and higher real yields capped its upward momentum. Consequently, gold is consolidating as the market weighs easing expectations against increasing real interest rates.
Gold price has experienced another week of profit-booking from its peak levels in the Indian market, made a low of 117,628 and managed to settle on a redemption at 121,284. Price has almost declined by -8.50% from the ATH level. On monthly chart, price has formed a Hammer formation suggesting selling pressure from the Highs. Gold price is still trading in a Rising channel, correcting from the resistance-line of the channel. Here, price is still over its key moving averages i.e. 50, 100 and 200-DEMA levels placed at 116,098, 120,920 and 100,407 respectively. Key resistance would be Daily SAR level which is placed at 127,414. The momentum indicator is stabled over 50 level on Daily chart. On MACD, we can observe a convergence below zero-line alongside declining negative histograms.
The overall trend in Gold price is expected to be Moderately Bullish in the coming week, and traders should keep an eye on key US economic data such as ISM Manufacturing and Services PMI, Core PCE price index and employment data which are scheduled to be released in next week.
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 116,098 | 120,000 | 121,284 | 124,000 | 127,414 |
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Prediction given by Technical Research Team - Choice.


