{"id":441640,"date":"2026-11-05T16:40:09","date_gmt":"2026-11-05T09:40:09","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/golds-key-breakout-signals-a-potential-trend-reversal-as-vances-comments-fuel-de-escalation-bets-441640\/"},"modified":"2026-11-05T16:40:09","modified_gmt":"2026-11-05T09:40:09","slug":"golds-key-breakout-signals-a-potential-trend-reversal-as-vances-comments-fuel-de-escalation-bets","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/golds-key-breakout-signals-a-potential-trend-reversal-as-vances-comments-fuel-de-escalation-bets-441640\/","title":{"rendered":"Gold’s key breakout signals a potential trend reversal as Vance’s comments fuel de-escalation bets"},"content":{"rendered":"
\n

Gold extended the
\n gains yesterday after breaking above a key trendline that\u2019s been defining the
\n downtrend since September. <\/p>\n

The breakout was driven
\n by a selloff in oil prices after the US Vice President Vance blamed the war
\n with Iran for the Republican Party’s heavy losses in the midterm elections. His
\n post published on X reinforced market expectations that the Trump
\n administration could seek an off-ramp from the war rather than escalate
\n military operations.<\/p>\n

Keep in mind that
\n a Democratic congress is also going to restrict further tax cuts, defence
\n spending and fiscal expansion in general. And this is positive for gold because
\n it\u2019s going to limit the rise in Treasury yields and the US dollar on lower rate
\n hike expectations. <\/p>\n

It could also
\n support gold in case Trump decides to escalate the war with Iran as inflation
\n expectations would rise alongside weakening growth outlook given fiscal constraints,
\n creating a stagflationary environment. <\/p>\n

Tomorrow, we have the US NFP report, but the data is unlikely to change the
\n Fed\u2019s outlook much as the market got used to strong labour market data. The
\n focus will likely remain on US-Iran negotiations, but at this point, it looks
\n like both an escalation and a de-escalation would be bullish for gold.<\/p>\n

\u00a0<\/p>\n

GOLD TECHNICAL
\n ANALYSIS \u2013 DAILY TIMEFRAME<\/p>\n<\/p>\n

On the daily chart, we can
\n see that gold<\/a>(CFD contract) broke above
\n the key downward trendline yesterday opening the door for a rally into the 4,700
\n level. The buyers will likely continue to pile in around these levels, with a
\n defined risk below the trendline, to keep targeting new highs. The sellers, on
\n the other hand, will need to see the price breaking below the major upward trendline
\n to open the door for new lows.<\/p>\n

GOLD TECHNICAL ANALYSIS \u2013 4
\n HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 4 hour chart, we have
\n a minor support zone around the 4,080 level. If we get a pullback, we can
\n expect the buyers to step in around the support, with a defined risk below the broken
\n trendline, to keep pushing into new highs. The sellers, on the other hand, will
\n want to see the price falling back below the trendline to position for a drop
\n into the major upward trendline, targeting a breakout.<\/p>\n

GOLD TECHNICAL ANALYSIS \u2013 1
\n HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 1 hour chart, we have a minor upward trendline defining the bullish momentum on this timeframe. Aggressive buyers will likely lean on the trendline, with a defined risk below it, to keep pushing into new highs. The sellers, on the other hand, will look for a break to extend the pullback into the 4,080 support, targeting a break below it. The red
\n lines define the average daily range<\/a> for today.<\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>we
\n get the latest US Jobless Claims figures. Tomorrow, we conclude the week with
\n the US NFP report and the University of Michigan Consumer sentiment survey.<\/p>\n

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

Gold extended the gains yesterday after breaking above a key trendline that\u2019s been defining the downtrend since September. The breakout was driven by a selloff in oil prices after the US Vice…<\/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-441640","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441640","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=441640"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=441640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=441640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=441640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}