Gold Price Forecast: Easing Energy Pressures Meet Persistent Fed Tightening Risk - FXLeaders

AI desk brief

• Gold gained Monday as oil and the dollar softened. The article argues cheaper energy could ease inflation and Fed tightening pressure, but payroll growth of 165,000 and 4.1% unemployment leave tightening risk intact.
• Citing the World Gold Council, it reports Q3 official-sector net purchases of 321 tonnes, up 42% year over year, and physically backed ETF additions of 211 tonnes. Jewellery demand fell 17% to 313 tonnes; these are not November flows.
• Its bullish technical scenario requires a four-hour close above $4,139.272 and a holding retest, targeting $4,215.381. A four-hour close below $4,041.877 and beneath the trendline invalidates that view; failed-breakout downside extends to $3,967.593.