{"id":122543,"date":"2025-11-04T16:30:51","date_gmt":"2025-11-04T14:30:51","guid":{"rendered":"https:\/\/ironfx-com.wp-dev.int.theitops.net\/?p=122543"},"modified":"2026-01-15T16:50:54","modified_gmt":"2026-01-15T14:50:54","slug":"golds-weekly-update-xau-usd-price-faces-key-hurdles-as-multiple-events-are-digested-by-the-markets","status":"publish","type":"post","link":"https:\/\/www.ironfxcn.com\/pt\/golds-weekly-update-xau-usd-price-faces-key-hurdles-as-multiple-events-are-digested-by-the-markets\/","title":{"rendered":"Gold\u2019s Weekly Update: XAU\/USD price faces key hurdles as multiple events are digested by the markets"},"content":{"rendered":"

Gold\u2019s price has been on the decline for the past three trading<\/a> days and is currently just below $4000 per troy ounce. <\/p>\n\n\n\n

In today\u2019s report we are to discuss the rate cut doubts cast by the Fed last week, the \u2018peace\u2019 agreement between China and the US in regards to trade, the issues of an ongoing Government shutdown and lastly some data for Gold trends for Q3 provided from the WGC.<\/p>\n\n\n\n

For a rounder view we are to provide a technical analysis of gold\u2019s daily chart.\u00a0<\/p>\n\n\n\n

Fed cast doubt over another rate cut by EOY.<\/strong><\/h2>\n\n\n\n

The Fed\u2019s meeting occurred last Wednesday<\/strong> and thus we haven\u2019t had a chance to address it in our weekly gold outlook. <\/p>\n\n\n\n

Although the initial market reaction has already occurred, the apparent hawkish stance by Fed policymakers and in particular Fed Chair Powell<\/strong> who stated that a December rate cut \u201cis not a foregone conclusion\u201d, could influence gold\u2019s price for the remainder of the month as more Fed policymakers are anticipated to take to the \u201cstage\u201d to note their views. <\/p>\n\n\n\n

Hence, should the sentiment from other policymakers indicate a hesitancy to cut rates in their December<\/strong> meeting could aid the dollar whilst weighing on gold\u2019s price given the two instruments’ inverse relationship. <\/p>\n\n\n\n

On the other hand, should the narrative appear to shift in favour of a possible rate cut in their final meeting of the year it could possibly aid gold\u2019s price. In our opinion, we wouldn\u2019t be surprised to see Fed policymakers maintaining a relatively \u201chawkish\u201d tone for the remainder of the month, yet considering the possible negative implications on the US economy<\/strong> as a result of the ongoing government shutdown, the narrative may change should data emerge that casts significant concern over the state of the US economy. <\/p>\n\n\n\n

In conclusion, the comments by the Fed Chair may have weighed on gold\u2019s price, but the narrative could possibly change by December.<\/p>\n\n\n\n

US-China \u201cpeace\u201d agreement calms the markets<\/strong><\/h2>\n\n\n\n

One of the main concerns leading up to the beginning of this month was the ongoing trade standoff between China<\/strong> and the US<\/strong>. That issue appears to have since been resolved with China<\/strong> agreeing to suspend the global implementation of the expansive new export controls on rare earths<\/strong> and related measures that were announced on October 9a.<\/sup>, the suspension of retaliatory tariffs<\/strong> that were announced on the 4a.<\/sup> of March as well as terminating its various investigations targeting U.S. companies in the semiconductor supply chain, including its antitrust, anti-monopoly, and anti-dumping \u00a0investigations amongst other agreements, per the White House.<\/p>\n\n\n\n

From the US\u2019s side, the United States \u201cwill lower the tariffs on Chinese imports imposed to curb fentanyl flows by removing 10 percentage points of the cumulative rate, effective November 10, 2025\u201d amongst other pledges per the same statement from the White House<\/strong>. <\/p>\n\n\n\n

Overall, the apparent conclusion of the trade war between the two largest economies in the world may have resulted in safe haven outflows from the precious metal, which in turn may have weighed on gold\u2019s price. In our view, we do not see the case for tensions flaring up between the two economic behemoths in the near future.<\/p>\n\n\n\n

US Government shutdown continues<\/strong><\/h2>\n\n\n\n

The US Government<\/strong> has been closed for the past 35 days bring it on par with the longest US Government shutdown which occurred during President Trump\u2019s first presidency. <\/p>\n\n\n\n

The ongoing Government shutdown continues to negatively affect the US economy and thus the longer it continues, the greater the concern over the true state of the US economy. <\/p>\n\n\n\n

Therefore, should recession worries resurface for the US economy, gold may gain safe haven inflows from investors which could aid the precious metal\u2019s price and vice versa. <\/p>\n\n\n\n

However,we should note that some optimism appears to have emerged which could result in the re-opening of the US Government and thus the positive developments may weigh on gold\u2019s price.<\/p>\n\n\n\n