Gold Prices Surpass $4,000 Level Once Again

The gold ounce price surpassed the $4,000 threshold once again after last week's heavy selling pressure, trading at the level of $4,010.94 at 03:35 TSI on October 27, 2026.

Technical Levels and Expectations

Peter Cardillo from Spartan Capital stated that prices rebounding from a psychologically and technically important area offered investors a suitable entry opportunity. StoneX strategist Bob Haberkorn, on the other hand, stated that despite purchases coming with the drop in oil prices, transactions could fluctuate around the $4,000 level until the Fed's statement.

Market analyst Muhammad Umair noted that for the upward trend to continue, the $4,070 level needs to be exceeded, in which case the target could be $4,250. He emphasized that in potential pullbacks, the first main support is $3,950, and if it falls below this level, a decline down to $3,800 could be experienced.

Macroeconomic Data and Market Conditions

OCBC strategist Christopher Wong pointed out that for a sustained upward move, there needs to be an easing in oil, a slowdown in inflation, a weakening in the dollar, and a decline in bond yields. In Saxo's market evaluation, it was reported that gold-backed exchange-traded funds (ETFs) reduced their holdings by 12.8 tons in the final part of the week, with the weekly loss exceeding 4 percent.

The US Federal Reserve (Fed) will announce its interest rate decision on Wednesday at 21:00 TSI following its meeting on October 27-28. While interest rates are expected to be kept unchanged in the market, rate hike possibilities for December are being evaluated. Additionally, US September PCE data and 3rd quarter growth estimates will be followed on Thursday.