Elections and oil unsettle gold: XAUUSD back near 3,940 USD
XAUUSD prices are hovering around 3,940 amid uncertainty surrounding the results of the US midterm elections and falling oil prices. However, expectations of a Federal Reserve rate hike in December continue to limit gold's upside potential.
Technical outlook
XAUUSD maintains a bearish structure on the H4 timeframe. Following a sharp decline towards 3,890, prices staged a corrective rebound but failed to consolidate above 3,968 and remain below the middle Bollinger Band.
The XAUUSD forecast for 4 November 2026 suggests that bearish momentum will persist, with a potential downside target at 3,897.
Read more - Gold Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
XAUUSD prices are hovering around 3,940 amid uncertainty surrounding the results of the US midterm elections and falling oil prices. However, expectations of a Federal Reserve rate hike in December continue to limit gold's upside potential.
Technical outlook
XAUUSD maintains a bearish structure on the H4 timeframe. Following a sharp decline towards 3,890, prices staged a corrective rebound but failed to consolidate above 3,968 and remain below the middle Bollinger Band.
The XAUUSD forecast for 4 November 2026 suggests that bearish momentum will persist, with a potential downside target at 3,897.
Read more - Gold Forecast
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
