{"id":39651,"date":"2025-11-10T14:32:56","date_gmt":"2025-11-10T14:32:56","guid":{"rendered":"https:\/\/xlence-com.wp-dev.int.theitops.net\/?post_type=news_analysis&#038;p=39651"},"modified":"2025-11-10T14:32:58","modified_gmt":"2025-11-10T14:32:58","slug":"golds-weekly-update-golds-bullish-tendencies-are-renewed","status":"publish","type":"news_analysis","link":"https:\/\/www.xlence.com\/de\/news-analysis\/golds-weekly-update-golds-bullish-tendencies-are-renewed\/","title":{"rendered":"Gold\u2019s Weekly Update: Gold\u2019s bullish tendencies are renewed"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.xlence.com\/en\/news-analysis\/golds-weekly-update-golds-price-renews-its-bullish-outlook\/\" target=\"_blank\" rel=\"noreferrer noopener\">Since our last outlook,<\/a> gold\u2019s price remained relatively stable until todays\u2019 opening in the Asian session, as the precious metal\u2019s price rallied. In today\u2019s report we are to discuss fundamental issues affecting currently gold\u2019s price. For a rounder view, we are also to provide a technical analysis of gold\u2019s daily chart.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>On a fundamental level, we make a start with the developments in the US-Sino trade relationships. China announced that it\u2019s to halt the banning of rare earth exports, among which Gallium, Germanium and Antimony. The announcement was made by China\u2019s commerce ministry on Sunday and seem to be a direct result of the trade negotiations South Korea. It should be noted that China\u2019s export ban has created a shortage of raw materials for US high tech companies, which in turn led to US companies to redirect supply chains by importing these goods through third countries. The easing of tensions in the US-Sino trade relationships tends to ease also gold\u2019s safe haven appeal, thus could weigh on gold\u2019s price. On the flip side, we may see the easing of Chinese restrictions on rare earth exports, falling short of US President Trump\u2019s expectations and in such a case we may see tensions escalating once again and thus could create support for gold\u2019s price again.\u00a0\u00a0 \u00a0\u00a0<\/li>\n\n\n\n<li>The possible ending of the US Government shutdown is another issue that could weigh on gold\u2019s price. In a latest development, in the US Senate a group of Democrats decided to reach a deal with the Republicans and passed a law that would extend finance for the US Government through January next year. Despite the financing of the US Government being for a rather short term period, should the House of Representatives also pass the bill, we may see safe haven demand for gold ease further, weighing on its price.<\/li>\n\n\n\n<li>To set a frame about how damaging the US Government shutdown has been on the US economy it\u2019s characteristic that White House economic adviser Kevin Hasset stated that should the US Government shutdown be extended, US economic growth in Q425, could turn into negative. The statement may be over the top, yet the market worries are still there. The few financial data released last week, tend to provide a mixed signals with the manufacturing sector showing another, deeper this time contraction of economic activity, while the services sector accelerated the expansion of economic activity in the past month, both as per ISM. On the other hand the Challenger layoffs showed a tripling of layoffs in the past month, in another signal of the weakness of the US employment market, while the UoM for November, highlighted a less confident demand side for the US economy, while conditions seem to be worsening. Overall given the information black out imposed by the US Government shutdown bad news, or a worsening expectations on behalf of the market for the US economy could enhance its expectations also for the Fed to cut rates thus could provide support for gold\u2019s price.\u00a0\u00a0\u00a0<\/li>\n\n\n\n<li>Another issue of interest for gold traders would be the negative correlation of the USD with gold\u2019s price. We note that the USD Index, which describes the movement of the USD against a basket of its counterparts,\u00a0 despite some slight bearish tendencies remained relatively stable. On the other hand gold\u2019s price remained relatively stable until Friday and rallied in today\u2019s Asian session. For us to view the negative correlation of gold with the USD being active, we would require a clear deviation of the direction of the two trading instruments, thus for the time being we tend to view it as inactive. \u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gold-technical-analysis\"><strong>Gold Technical analysis<\/strong><\/h2>\n\n\n\n<p>Gold\u2019s price rallied in tomorrow\u2019s Asian session breaking the 4010 (R1) resistance line clearly, turning the level into a support level. The upward motion of the precious metal\u2019s price signalled the breaking out of the boundaries of gold\u2019s past sideways motion, as the precious metal\u2019s price has flirted with the 4010 (S1) former resistance line for the past two weeks, hence we adopt for the time being a bullish outlook. Also the RSI indicator has started to timidly rise higher, escaping also the reading of 50 to the upside. For the bullish outlook to be maintained, we would require gold\u2019s price to continue rising, actively aiming for the 4185 (R1) resistance line, while even higher we note the 4375 (R2) resistance level, the All Time High level for gold\u2019s price. For a bearish outlook to emerge, we would require gold\u2019s price to drop, break the 4010 (S1) support line and continue to also break the 3810 (S2) support level, while even lower we note the 3630 (S3) support base.&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-xau-usd-daily-chart\"><strong>XAU\/USD Daily Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"698\" height=\"323\" src=\"https:\/\/www.xlence.com\/wp-content\/uploads\/2025\/11\/gold-outlook-10-11-2025.png\" alt=\"Line chart of XAU\/USD showing price fluctuations, highlighting key trends in the currency exchange rate in Gold price\" class=\"wp-image-39653\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Support: 4010 (S1), 3810 (S2), 3620 (S3)<\/li>\n\n\n\n<li>Resistance: 4185 (R1), 4375 (R2), 4500 (R3)<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since our last outlook, gold\u2019s price remained relatively stable until todays\u2019 opening in the Asian session, as the precious metal\u2019s price rallied. In today\u2019s report we are to discuss fundamental issues affecting currently gold\u2019s price. For a rounder view, we are also to provide a technical analysis of gold\u2019s daily chart. Gold Technical analysis Gold\u2019s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28170,"template":"","news_category":[109],"class_list":["post-39651","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-weekly-insights-gold"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gold\u2019s Weekly Update: Gold\u2019s bullish tendencies are renewed<\/title>\n<meta name=\"description\" content=\"Gold price rallies as US-Sino tensions ease and US shutdown nears end, renewing bullish momentum for XAU\/USD.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xlence.com\/en\/news-analysis\/golds-weekly-update-golds-bullish-tendencies-are-renewed\/\" \/>\n<meta property=\"og:locale\" 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