- Price: Around $3,876/oz; Friday's range $3,870-$4,027, down about 3.6% on Friday.
- Trend/Bias: Bearish near-term, capped below $3,900 after Friday's sharp sell-off.
- Support: $3,870 (Friday low) | Resistance: $3,900 and $4,027 (Friday high).
- Fundamental driver: The Fed held rates at 3.75%-4.00%, but strong US GDP, elevated inflation and higher oil prices keep December hike expectations alive, pressuring non-yielding gold.
- Geopolitical driver: The Strait of Hormuz tanker attack and the US-Israeli war on Iran lifted oil, yet rate-hike fears outweighed gold's usual safe-haven bid on Friday.
- Outlook: Quiet weekend trade ahead of the Sunday-night reopen; holding $3,870 matters, while reclaiming $3,900 would ease near-term bearish pressure.
Disclaimer: This analysis is for education and information only, not financial advice.
@Mr_Charlie_007

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