🔍 Fundamental Overview
Gold begins November consolidating near $4,045 after a corrective pullback from October highs. The Fed’s recent rate cut and lingering geopolitical risks continue to support gold, while improved risk sentiment limits aggressive upside.
🌍 Global Drivers:
• Fed Policy: Fed cut rates by 25 bps to 3.75%-4.00% on Oct 29, signaling a pause before further easing. Lower yields remain supportive for gold.
• Dollar & Yields: U.S. Dollar Index firmed slightly, capping upside, but real yields remain near multi-month lows.
• Geopolitical Risks: Middle East tensions and global trade uncertainty sustain safe-haven demand.
• ETF Flows: Gold ETFs recorded modest inflows last week, signaling continued investor interest despite profit-taking.

📊 Technical Analysis
Support Levels:
• $4,000 – Psychological and structural support
• $3,980 – Short-term floor
• $3,950 – Extended downside target
Resistance Levels:
• $4,080 – Initial resistance
• $4,120 – Weekly pivot
• $4,150 – Bullish extension target
Indicators:
• MACD: Bearish momentum fading; potential bullish crossover
• RSI: ~50 – Neutral, leaning bullish
• Stochastic: Recovering from oversold territory
• 50-day MA: Price hovering near $4,050; sustained close above $4,080 signals bullish continuation

📈 Trading Scenarios
✅ Bullish Setup:
• Entry: Above $4,080 with confirmation
• Targets: $4,120 ➡️ $4,150
• Stop-Loss: Below $4,000
• Catalysts: Fed dovish tone, geopolitical risk, ETF inflows
❌ Bearish Setup:
• Entry: Below $4,000
• Targets: $3,980 ➡️ $3,950
• Stop-Loss: Above $4,080
• Catalysts: Strong U.S. data, risk-on sentiment, profit-taking