Gold Analysis – 29 October 2026

The Asian session witnessed a steady decline from the open of 4,081.40 to print an intraday low of 4,047.00, indicating immediate supply pressure. Price action remains capped beneath local structural pivots, suggesting potential for further liquidation toward key higher-timeframe support zones ahead of the London open.

Key support levels

• 4,047.00 — Session low and immediate horizontal liquidity pool
• 4,035.50 — Swing low from 26 October and key daily ascending channel support
• 4,020.00 — Psychological level and primary H4 demand zone

Key resistance levels

• 4,062.00 — Overnight consolidation breakout level and M15 supply pivot
• 4,081.70 — Session high and structural H4 resistance barrier
• 4,095.00 — Prior swing high and psychological resistance boundary

Potential buy zones

• 4,032.00 to 4,036.00 — Watch for H1 bullish reversal structures, targeting 4,050.00 on confirmation.

Potential sell zones

• 4,058.00 to 4,062.00 — Look for M15 bearish distribution patterns with stops above 4,066.00, targeting 4,047.00.

Economic events

• 12:30 UTC — US Advanced GDP q/q (High volatility expected for XAUUSD)
• 13:30 UTC — US Weekly Unemployment Claims (Moderate impact via USD sentiment shifts)

US dollar impact

The US Dollar Index (DXY) consolidates gains above the 104.50 level, acting as a persistent headwind for USD-denominated precious metals. Sustained strength in greenback bidding during the European morning could accelerate liquidations in XAUUSD toward the 4,035.00 region.

Treasury yields

US 10-year Treasury yields remain firm at 4.25%, reducing the non-yielding asset's relative appeal. Any further upward drift in yields prior to the US session will likely reinforce the bearish pressure on Gold.

Geopolitical factors

Geopolitical risk premiums remain stable but elevated, providing a soft floor under structural demand. However, the lack of immediate escalations overnight has allowed tactical sellers to dominate intraday flow.

Technical outlook

• Daily: Gold is printing a bearish engulfing candidate, threatening to break the short-term ascending corridor.
• H4: The loss of the 4,065.00 level shifts the intermediate-term structure to a bearish sequence of lower highs and lower lows.
• M15: Oversold short-term conditions point to a potential corrective bounce toward the 4,062.00 supply level before the London open.

Trade invalidation

A sustained hourly close above 4,081.70 invalidates our intraday bearish outlook and shifts the tactical bias back to neutral.

Conclusion

The tactical plan for today focuses on short-execution strategies near the 4,062.00 resistance pivot. Should the market fail to retrace, we will watch for a high-volume break of 4,047.00 to trade momentum down to 4,035.50. Strict risk management must be observed with stops placed above local structural highs, as we do not forecast direction but execute systematically on these defined levels.

Setups derived from this outlook are published on the Gold Trading Signals page and in the GOLD Scalper Telegram channel. Closed results appear in the performance log.