{"id":441366,"date":"2026-11-03T01:40:05","date_gmt":"2026-11-02T18:40:05","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-technicals-gold-is-up-sharply-erasing-some-of-last-weeks-declines-bounces-off-key-ma-target-441366\/"},"modified":"2026-11-03T01:40:05","modified_gmt":"2026-11-02T18:40:05","slug":"gold-technicals-gold-is-up-sharply-erasing-some-of-last-weeks-declines-bounces-off-key-ma-target","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-technicals-gold-is-up-sharply-erasing-some-of-last-weeks-declines-bounces-off-key-ma-target-441366\/","title":{"rendered":"Gold Technicals: Gold is up sharply erasing some of last week’s declines. Bounces off key MA target."},"content":{"rendered":"
\n

Lower yields help gold recover<\/p>\n

Gold fell sharply Friday as risk-off sentiment dominated trading. Today, the focus has shifted toward lower Treasury yields, helping gold recover some of that decline.<\/p>\n

The U.S. 10-year yield is down 5.0 basis points at 4.87%. Gold typically benefits from falling yields because it pays no interest. When bonds offer a lower return, the opportunity cost of holding gold falls, making the metal relatively more attractive.<\/p>\n

The rebound is also getting help from a successful test of a key technical support level.<\/p>\n

Buyers lean against the 100-week moving average<\/p>\n<\/p>\n

On the weekly chart, gold tested its 100-week moving average at $3882.35 (see blue line on the chart above). Today\u2019s low slipped just below that level before buyers stepped in and pushed the price higher.<\/p>\n

Gold is now trading near $3968, just below the session high of $3970.34.<\/p>\n

The bounce reinforces the importance of the 100-week moving average as a longer-term barometer. As long as the price remains above it, buyers who leaned against that level can stay in the game. A move back below would undermine the rebound and give sellers more control.<\/p>\n

Reclaimed swing area provides close support<\/p>\n<\/p>\n

Today\u2019s recovery has also taken gold back above the swing area between $3942 and $3959. That zone defined a series of swing lows from June 24 through July 17 before giving way during Friday\u2019s tumble (see red numbered circles on the chart above).<\/p>\n

Moving back above the area is a positive step for buyers. They will now want to see support develop within that zone, with $3942 serving as the close risk-defining level.<\/p>\n

Holding above keeps the recovery intact. A move back below would weaken the buyers\u2019 progress and leave the rebound looking more vulnerable.<\/p>\n

Hourly moving averages are the next upside tests<\/p>\n

The next upside target is the falling 100-hour moving average at $3997.31, near the psychological $4000 level. Above that sits the falling 200-hour moving average at $4023.09.<\/p>\n

Both moving averages would need to be broken\u2014and stay broken\u2014to increase the bullish bias. Gold has traded below its 200-hour moving average since October 19, making that level a particularly important test.<\/p>\n

For now, buyers have defended key weekly support and reclaimed a swing area. The next step is to build on those gains by holding above $3942\u2013$3959 and pushing through the hourly moving averages.<\/p>\n

In the video above, I speak to the technicals that are driving the price of gold in greater detail.\u00a0\u00a0<\/p>\n

This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Lower yields help gold recover Gold fell sharply Friday as risk-off sentiment dominated trading. Today, the focus has shifted toward lower Treasury yields, helping gold recover some of that decline. The U.S.…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-441366","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=441366"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441366\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=441366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=441366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=441366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}