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Gold’s Final Rebound Ends, as It Did in 2013
FXEmpire • • business
Key Points:
- Silver futures are trading near $50.40, while the USD Index futures have risen to 103, marking a new high for 2026, reflecting a stronger dollar environment.
- Gold experienced a rally to $4,074.70 before reversing and settling at $4,000.50, but it is currently declining, signaling the end of its early-November correction.
- Hawkish comments from Chicago Fed President Austan Goolsbee, a fully priced December rate hike, and rising 10-year Treasury yields above 5% are strengthening the dollar and pressuring gold prices.
- Despite escalating geopolitical tensions with Israel preparing for a potential attack on Iran, gold failed to act as a safe haven, which is viewed as a bearish indicator for the metal.
- The analyst predicts gold’s next significant move will be downward toward approximately $3,500, drawing parallels to the 2013 gold market pattern, and notes that mining stocks and other commodities are showing sell signals.
