Gold price stabilization range: 4040-4100 US dollars

This week’s monetary policy overview:

1. Internal disputes at the Federal Reserve:

New York Fed President Williams hinted at a hawkish stance, believing that there is still room for a short-term interest rate cut; while Dallas Fed President Logan and Boston Fed President Collins took a hawkish stance and called for maintaining current interest rates.

Summary: This volatility in gold price trends is the main cause of short-term fluctuations.

2. Delayed release of key data:

U.S. producer price index and retail sales data for September will be released on November 25. These data are important indicators for assessing inflation and economic conditions.

Summary: Potential Sources of Volatility

Key technical level

Support level:

First support level: around $4,040 per ounce

Basic support level: 4030-4025 US dollars / ounce range

This is the most recent uptrend line and is a key area that has been tested multiple times. If gold breaks above this level, it could fall further to $4,000 or even lower.

Resistance levels:

Near-term resistance levels: psychological price levels of $4,080/ounce and $4,100/ounce. Gold prices have tested the $4,100 mark several times, but failed to effectively break through.

Upside target: If gold breaks out strongly and sustains the $4,100 level, the next target could be $4,122 or even $4,200.

Short term trading strategies:

1: Consider opening a short position near $4,080, with a loss limit above $4,100 and a target price near $4,040.

2: If the gold price falls to around US$4,022 and finds support, you can consider opening a short position, setting the loss limit at US$4,012, and the target price between US$4,055 and US$4,075.

Basic strategy: Trade within the current trading range, set stop loss orders accurately, and avoid chasing highs and lows.

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