Gold Price Forecast: XAU/USD Slips Below $4,000 as Hot PCE Backs December Hike - FXLeaders

AI desk brief

Spot gold is trading near $3,992/oz, back below $4,000 and down about 0.7% as stronger US data kept a December Fed hike in play. Q3 GDP came in at 3.4% annualized and September PCE rose 0.5% m/m, with traders pricing about a 75% chance of a December move; the article flags $3,978.64 as the key near-term support.

Technically, sellers remain in control below $4,030.12, with the next downside targets at $3,952.52 and $3,921.80 if $3,978 breaks. The piece notes gold fell even as Treasury yields and oil eased, which the author reads as positioning for tighter policy rather than a reaction to daily headlines.