Gold has been underperforming as of late and remains below strong resistance at $1800 despite the ongoing bullish sentiment. Currently price is consolidating in a potential bear flag formation which often heralds a resumption of a downward move. In this case if sellers manage to break below the key support at $1760 then downward move may accelerate towards next support at $1725. In order to invalidate the bearish scenario, buyers need a break above the aforementioned resistance at $1800.
GOLD, H4 interval. Source: xStation5
Chart of the day 🚩 Cocoa sell-off continues. Record ICE inventories and index rebalancing in focus (11.11.2026)
Daily summary: CPI reading hits markets, hawkish Fed and Wall Street selloff
Sharp retreat from gold. Higher US CPI opens the door to a 50 bps rate hike in the US
🚩 Oil falls 2% to its lowest level since late August. What’s next?