Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 26, 2026 - Mitrade

AI desk brief

Gold slid below the psychologically important $4,000 level, trading around $3,996 and closing the week down more than 3.5%, as the Hormuz-driven spike in Brent to $117/bbl renewed inflation fears and strengthened the case for the Fed to stay restrictive. The article flags key near-term support at $3,981–4,004; a hold there could stabilize the market, while a break lower opens $3,932–3,951 and then $3,829–3,849.

Despite the selloff, the piece argues positioning is stretched: stop-losses were triggered below $4,065, hedge-fund shorts are nearing an extreme, and central-bank buying is still described as supportive. U.S. inflation expectations rose to 4.7% and core selling prices in the PMI were the strongest since Aug 2022, so the Oct. 27–28 FOMC and Thursday’s core PCE are the main catalysts for whether gold rebounds back toward $4,101–4,110 and higher resistance at $4,215–4,227.