Gold Price Forecast: XAU/USD Reclaims $4,000 as Oil Cools Ahead of Fed Decision - FXLeaders

AI desk brief

Spot gold has recovered to about $4,007 after dipping to $3,978, helped by easing oil prices and a modest relief bounce after last week’s 4% selloff. The key technical focus is the $3,961-$3,893 demand zone; a daily close below $3,893 would open further downside toward $3,765, while reclaiming $4,074 would improve the near-term setup.

The article frames the move as mostly oil relief rather than fresh safe-haven buying, with higher oil earlier in the month boosting inflation expectations and weighing on gold. Wednesday’s Fed decision is the main catalyst: a hawkish tone or firmer guidance on December policy could push gold back below $4,000, while softer signaling would support a rebound.