Technical Outlook on...from Sagaah Elite Management

Technical Outlook on Gold : Consolidation or Breakdown? Gold’s recent pullback follows a sharp rally in October, where prices touched record highs near $4,380. Analysts suggest the current move may be part of a broader consolidation phase, with strong support still visible near the $3,900–$3,920 zone. October gain: +3.74% despite volatility Support zone: $3,900–$3,920 Resistance: $4,000 psychological level

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GOLD SLIPS AS DOLLAR GAINS Gold dips Monday as a firmer USD weighs on prices. 📊 Traders eye key US data this week for fresh Fed rate clues. 🕵️‍♂️ FOMC Minutes (Wed) & NFP (Thu) in focus.

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Gold slips to $3,930 as Dollar surges and Fed rate cut hopes fade Gold prices retreated to a three-day low near $3,930 per troy ounce on Tuesday, pressured by a resurgent US Dollar and waning expectations for a December rate cut by the Federal Reserve. While softer Treasury yields offered some support, the broader sentiment remains cautious as traders reassess the Fed’s next move.

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🔴Political and Economic Pressures Weigh on Dollar Ahead of Jobs Data The U.S. dollar opened Tuesday trading on a mixed note, as global monetary policy signals and domestic political uncertainty continue to shape investor sentiment. Global Policy Drivers Other Central Banks: Policy shifts in Europe and Switzerland also added to volatility, reinforcing the view that global monetary cycles remain uneven and dependent on local inflation/labor dynamics. U.S. Political Headwinds Shutdown risks: Ongoing gridlock over federal funding deadlines continues to undermine confidence, creating an added layer of uncertainty for the dollar. Fed stance: Despite elevated inflation readings, policymakers remain cautious about overtightening given signs of labor market softening. Goldman Sachs: Jobs Data Could Resolve Disconnect Between Stocks and Bonds.Goldman Sachs highlighted the unusual divergence between U.S. equity and bond markets ahead of this week’s key labor releases. Equity markets: Pricing in a “soft landing” narrative, expecting the Fed to cut rates without derailing growth. Investors are also betting on reacceleration by 2026, aided by fiscal support. Bond markets: Taking a more cautious stance, focusing on downside risks from weakening employment and the possibility that growth momentum is already stalling. Goldman argued that the upcoming U.S. jobs report could act as the decisive catalyst to resolve this split, either reinforcing equity optimism or validating bond investors’ caution. 📌 Bottom Line: The U.S. dollar remains caught between political risk, central bank divergence, and incoming labor data. Markets will be highly sensitive to September’s employment figures, which could tip sentiment across currencies, equities, and Treasurys alike.

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