Gold Prediction October & November
US Govt Shut Down
Gold price prediction mostly depends on Government shutdown and uncertainty around it. US Govt finally seen the shut down which market was expecting. Gold prices started discount in price in late September. But the way Republicans are not budging at all while their govt is non functional. It feels like they have decided no matter what they will not compromise in major issues with Democrats. This is one of biggest reason of gold price rise. No end in sight and Labor department stopped releasing major data such as Jobs and Inflation. We are flying blind without data which is a great fuel for gold price. Most probably Fed will be cutting interest rate at least twice in 2025.
Re-ignited Trade War with China
President Trump re-ignited fresh round of trade war with China. He threaten to impose 100% additional tariff on China by 01st November 2025. China has retaliated and as they demonstrated earlier in April. China is willing to fight till end. New tariff threat and ongoing tariff tiffs with India is also a big factor in gold prices. India and US still did not reach on agreement and tariffs are dragging since 2 months. India is also not budging at all. US threaten India as well with additional tariffs which are yet to be come into effect. Dollar Index seen more than 10% correction in 2025 so far , which could end up highest correction of all time in recent years. Another major reason to gold go up.
Uncertainty & Chaos ( Fuel for Gold )
Uncertainty regarding tariffs and ongoing chaos unleashed by President Trump is main reason why we are seeing 10-15% rise a month in gold prices. This needs to stop if we ever want to see gold price correcting. Despite Gaza ceasefire gold prices are refusing to come down as new tariff threat has unleashed by Trump.
Technical Levels
Gold prices are trading at the very top at 4200$. A major hurdle for October and November 4450$. This is major hurdle for gold prices. Once we break and close above this then expect more beating for sellers upto 4700$ and 5000$.
Support in gold price stands at 3950$. If gold close below this level then a small breather upto 3900$ and 3800$ expected to sellers.
Currently Gold prices are in ultra bullish zone. You can always check daily gold forecast on my YOUTUBE CHANNEL