---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000975453.md"
description: "$Gold.com(GOLD.US)🏆 [Weekly] Gold at a Crossroads: Strong Jobs Data Reshapes the Outlook🔷 Technical SnapshotsGold has corrected sharply from above US$5,400 and now trades near US$4,070, close to the key US$4,000 level. The daily RSI is falling toward oversold territory. The 4‑hour chart shows extreme volatility. A dip below US$3,900 was quickly met with strong buying, forming a V‑shaped recovery back above US$4,000. Short‑term momentum has improved but the broader downtrend remains intact.🔷 Macro & Payroll ImpactOctober’s nonfarm payrolls delivered a big upside surprise. The economy added 165,000 jobs versus expectations of only 65,000 and the unemployment rate fell to 4.1%. The surprised non farm payrolls data has removed any urgency for the Federal Reserve to cut rates aggressively in December. A more hawkish Fed strengthens the US dollar and that the main headwind pulling gold lower.🔷Analyst ViewRecently, Goldman Sachs has lowered its gold forecasts. 1️⃣ End‑2026 target drops from US$4,650 to US$4,150 2️⃣ End-2027 target from US$5,400 to US$4,800. Risks include higher oil prices and stock market volatility that could trigger further deleveraging. On the positive side, central bank buying and long‑term demand for portfolio insurance continue to underpin the market.🔮 What Lies AheadThe big drop from the highs reflects the shift in Fed expectations. Short‑term support near US$4,000 is clear but resistance at US$4,150 caps upside for now. Unless something big changes or happening or else gold may trade in a tighter range between these two levels.Disclaimer: For information only, not financial and investment advice. Do your own due diligence.☺️"
datetime: "2026-11-07T01:30:58.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000975453.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000975453.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000975453.md)
author: "[Fattycat](https://longbridge.com/en/profiles/19854884.md)"
generator: "portal-rs"
---

# $Gold.com(GOLD.US)🏆 [Weekly] Gold at a Crossroads:…


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## Comments (5)

- **Vt3 · 2026-11-07T13:19:36.000Z · 👍 1**: I tot u said going Up now so fast Down again 😅 equally unstable still ?
  - **Fattycat** (2026-11-07T13:20:45.000Z): After job report and unemployment rate plus analysts downgrade
  - **Vt3** (2026-11-07T13:27:34.000Z): Why didn’t you put this into your favour gold calculated risks?
  - **Fattycat** (2026-11-07T13:54:54.000Z): I closed all my gold trades yesterday. Small profit.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**