{"id":441709,"date":"2026-11-06T17:40:06","date_gmt":"2026-11-06T10:40:06","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/a-welcome-change-for-gold-as-tech-selloff-fails-to-spark-heavy-liquidation-breaking-the-recent-pattern-441709\/"},"modified":"2026-11-06T17:40:06","modified_gmt":"2026-11-06T10:40:06","slug":"a-welcome-change-for-gold-as-tech-selloff-fails-to-spark-heavy-liquidation-breaking-the-recent-pattern","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/a-welcome-change-for-gold-as-tech-selloff-fails-to-spark-heavy-liquidation-breaking-the-recent-pattern-441709\/","title":{"rendered":"A welcome change for gold as tech selloff fails to spark heavy liquidation, breaking the recent pattern"},"content":{"rendered":"
\n

Gold came under
\n some pressure yesterday amid the tech stocks rout. The good news is that we
\n haven\u2019t experienced the same strong liquidation that we\u2019ve seen in the past
\n weeks. <\/p>\n

This might be due
\n to the change in context and positioning. We now have a Democratic Congress
\n which is going to restrain fiscal expansion and likely limit the rise in Treasury
\n yields. At the same time, we still have the war in Iran that is likely to keep
\n inflation expectations high. <\/p>\n

The result is
\n lower real yields, especially with the rout in tech stocks weighing on growth
\n expectations and nominal yields.<\/p>\n

The positioning in
\n gold is also much less crowded than at the start of the year. BofA’s FMS survey
\n had already shown in July that gold was the most undervalued since 2023, which
\n should provide further support for the precious metal.<\/p>\n

The focus will now
\n be on the US-Iran situation and the Fed. If Trump decides to escalate the war, inflation
\n expectations would rise alongside weakening growth outlook, creating a
\n stagflationary environment. This is bullish for gold.<\/p>\n

At the same time, if
\n we get a de-escalation, we could see a dovish repricing on easing inflation concerns,
\n which could also support gold in the short-term. <\/p>\n

Today, we have the US NFP report. Soft data could lower rate hike
\n probabilities further and trigger a rally in gold. A hot report, on the other
\n hand, is unlikely to change much for the Fed, so a downward spike could be
\n quickly faded.<\/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 and pulled back to retest it. The buyers will likely
\n continue to pile in around these levels, with a defined risk below the
\n trendline, to keep targeting new highs. The sellers, on the other hand, will
\n need to see the price breaking below the major upward trendline to open the
\n door for new lows.<\/p>\n

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

On the 4 hour chart, we can
\n see that the minor support around the 4,080 level didn\u2019t hold but the price
\n still bounced from the broken trendline. The buyers will likely want to see the
\n price rising back above the broken support zone to pile in for a rally into the
\n 4,500 level. The sellers, on the other hand, will need the price to fall back
\n below the trendline to extend the pullback into the minor upward trendline around
\n the 3,960 level next.<\/p>\n

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

On the 1 hour chart, we
\n have a minor downward trendline defining yesterday\u2019s pullback. The sellers will
\n likely lean on the trendline, with a defined risk above it, to keep targeting
\n the upward trendline. The buyers, on the other hand, will want to see the price
\n breaking higher to pile in for a rally into the 4,500 level next. The red lines
\n define the average daily range<\/a> for today.<\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>we
\n conclude the week with the US NFP report and the University of Michigan
\n Consumer sentiment survey.<\/p>\n

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

Gold came under some pressure yesterday amid the tech stocks rout. The good news is that we haven\u2019t experienced the same strong liquidation that we\u2019ve seen in the past weeks. This might…<\/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-441709","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441709","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=441709"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441709\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=441709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=441709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=441709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}