Gold Price Forecast: XAU/USD Faces Critical November Test as Dollar and Treasury Yields Drive Selling - FXLeaders

AI desk brief

Gold enters November under heavy selling pressure after breaking below $4,000 and its 200-day moving average, with the decline accelerating to about $3,589 before stabilising. The article says the breakdown leaves the 200-day SMA as resistance and warns that a decisive loss of the longer-term support zone could open the door to a deeper year-end correction.

Near-term direction is framed around the dollar, Treasury yields and incoming U.S. data. The Fed held rates at 3.75%-4.00%, and weaker labour or ISM data could ease tightening expectations and help gold recover, while stronger prints would reinforce the higher-for-longer backdrop that has been pressuring bullion.