World gold prices rebounded, surpassing the $3,950/oz mark. - Vietnam.vn

AI desk brief

Gold rebounded 2.1% on Monday to $3,954.41/oz, recovering from a one-year low after the prior session’s 3.6% drop, while December futures settled at $3,969.60/oz. The move was supported by an ~8% slide in oil prices, which eased inflation concerns, but the metal still faces pressure from a strong dollar, elevated real yields, and expectations that the Fed may still hike in December; CME FedWatch now prices that outcome at 77%, down from 80% a week ago.

Market focus is now on the US midterm elections and Friday’s October payrolls report. Analysts cited $4,000/oz as the key reclaim level for a more durable rebound, with upside resistance at $3,978-$4,035/oz and $4,086/oz next, while downside support is seen at $3,817/oz and $3,719/oz.