Gold Outlook: Could Tuesday Be a Turning Point?

Published 24/11/2025, 07:03
Updated 24/11/2025, 07:50

After reviewing the movements of the gold futures on different time charts since Oct. 2025, I find that the gold futures look ready to repeat the fall of 7%, seen on October 21, 2025, in a daily chart, once again this Thursday as after a fall of approximately 4.26% on Nov. 14 (Friday), futures continued this slide on Nov. 17 (Monday) and tested a low at $3890.
Gold Futures Daily Chart

But, since then upside was capped for the gold futures at $ 4104.45, just below the immediate resistance at $4137 as despite a bullish attempt on Nov. 19, 2025, bulls could hardly bump up to $4134.66, and since then gold futures have been trading with lower highs and lower lows till last Friday, confirming an advent of a steep slide that could start this Tuesday with repetition of a 7% fall despite a possible bump on Monday as the last week’s moves indicate a surging indecisiveness that kept the main body of all the daily candles between the 9 EMA ($4082.70) and the 20 EMA ($4070), increasing the probability of a breakdown below the significant support at the 50 EMA ($3967.51) this week.

Undoubtedly, a sustainable move below the 50 EMA cold pushes the gold futures to test the next support at the 100 EMA ($ 3,783.34), where a breakdown could push the futures to test the next significant support at the 200 EMA ($ 3,503.78) in December 2025.
Gold Futures Weekly Chart - Up to December 31, 2025

In a weekly chart, gold futures are showing extensive bearish pressure continued to trigger selling sprees since las few weeks whenever the bull tried to test the significant resistance at $4250.68 since Oct. 2025 while last week’s candle remained below the immediate resistance at $4137, and could find a breakdown below the immediate support at the 9 EMA ($3981.82) and the next support at the 20 EMA ($3784.45) this week.

I find that the weekly candle formation in the second week of December 2025 will play an important role in defining the further direction of the rest of the weeks till Dec. 31, 2025 as I find that if the Federal Reserve keep the interest rates unchanged or with a cut of only 25 basis point, which has already been priced in the gold prices, could generate fresh selling spree that could drag down the gold futures to test the lows at $3034 on Dec. 31, 2025.


In a monthly chart, gold futures are expected to close this month below the significant support at $3890 that will define the exact quantum of bearish pressure, and a sustainable move below this significant support could continue this exhaustion in December 2025 as the god futures are bound to test the exact height of the Handle, of the ‘Cup & Handle’ formation in a monthly chart while the overly excited bulls pushed the futures much above the height of the ‘Handle’.

I anticipate that the currently prevailing indecisiveness, due to the changing stances of President Trump on trade tariff policies and his international peace agenda, could ease the grim geopolitical situation. Additionally, the declining expectation of an interest rate cut by the Federal Reserve in its Dec. 10-11 meeting could accelerate the selling spree next month.

Disclaimer: Readers are advised to take any position in gold at their own risk, as this analysis is based only on observations.

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