Today’s Gold Analysis Overview:
- The overall of Gold Trend: Neutral
- Today's Gold Support Points: $3,970 – $3,920 – $3,850 per ounce.
- Today's Gold Resistance Points: $4,040 – $4,090 – $4,130 per ounce.
Today's Gold Trading Signals:
- Sell gold from the resistance level of $4,085 with a target of $3,900 and a stop-loss at $4,120.
- Buy gold from the support level of $3,890 with a target of $4,100 and a stop-loss at $3,850.
Technical Analysis of Gold Price (XAU/USD) Today:
Recently, spot gold prices resumed their rise after US private sector job growth exceeded expectations. Across gold trading platforms, gold prices rose to the $4010 per ounce level today, Thursday, November 6, 2025, recovering from significant losses that reached the $3886 per ounce support level amid strong profit-taking sell-offs. Frequently, we have noted the possibility of these sell-offs. Especially, after the gold price index rose last month to the $4382 per ounce resistance level, the highest in gold's history.
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US Jobs Data is an Influential Factor on the Market
According to economic calendar data, ADP, a payroll processing company, showed a rebound in US employment last month, with the US adding a total of 42,000 private sector jobs, following a loss of 29,000 jobs in September. Experts believe that even if the US government shutdown ends this week, the Federal Reserve may still lack official payroll data before its December 10 announcement due to disruptions in data collection. This release—although incomplete—suggests that the US labor market has at least stabilized in recent months, but it still lacks real momentum, keeping our expectations for a December US rate cut as they were.
US Dollar Maintains its Strength
According to Forex currency market trading, those hoping that key US data drops this week would cause a shift in the US Dollar price will be disappointed. What we learned from the two economic releases mid-week is that the US economy is resilient, even with continued labor market weakness. Across trusted trading company platforms, the US Dollar maintained its recent high levels against the British Pound and the Euro after the ISM Services Purchasing Managers' Index (PMI) revealed a strong return to growth in the US private sector economy in October. The index reading was 52.4 points, up from 50 points recorded in September, and exceeded expectations of 50.8 points, indicating a rebound in activity during the month.
However, what the report tells us about the US labor market is what matters most to the markets. Ultimately, future interest rate cuts by the Federal Reserve are based on the assumption that the labor market continues to deteriorate. The US employment index in the services sector contracted for the fifth consecutive month, registering a reading of 48.2, which indicates contraction.
Hints of labor market weakness also appeared in the ADP report, which showed job growth of 42,000 in October—which economists refer to as a deceleration in hiring. According to economic experts, the ADP estimate suggests a gradual, continued slowdown in the labor market. Therefore, the stagnation in the labor market is likely to continue accumulating through October, indicating that official data, if available by then, will provide a strong justification for the Federal Open Market Committee (FOMC) to ease monetary policy again in December.
Increasingly, investors are focused on these private-sector reports due to the US government shutdown, which means official agencies are unable to release economic statistics. This leaves the Federal Reserve uncertain about the labor market's progress and raises questions about whether another interest rate cut in December is warranted. For the US dollar, this uncertainty is proving supportive. However, if the likelihood of an interest rate cut were to increase again, the currency could weaken once more, allowing the GBP/USD pair to recover.
Ultimately, this week's data offers no such incentive, leaving the dollar in control.
Gold Technical Levels
According to gold analysts' expectations, gold prices have returned to the neutral zone by rising above the psychological $4000 level. Gold bulls will now seek factors of strength to launch towards stronger upward levels, with the closest targets currently being $4055 and $4120 per ounce. The latter level will restore the market's focus on the historic record rally for gold. Currently, the 14-day Relative Strength Index (RSI) is around a reading of 52, confirming the neutrality, and at the same time, the MACD indicator lines are halting their downward turn. The bearish scenario for gold on the daily chart will strengthen upon a return to the vicinity of the $3880 per ounce support.
Global trade and geopolitical tensions, the US dollar exchange rate, and central bank gold purchases will remain the most significant factors influencing the market.
Trading Advice:
We still recommend buying gold on any significant price dips. However, don't take unnecessary risks and diversify your investment portfolio to mitigate the impact of sudden price fluctuations.
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