Gold price today: spot gold (XAUUSD) is holding around $3,952 on Tuesday morning after rebounding about 1.8% from a 1-year low on Monday, as crude oil fell more than 7% on news that the US and Iran are opening the door to talks and the US 10-year Treasury yield eased to around 4.9%. Markets still price a roughly 75% chance of a Fed hike in December. Today, watch the RBA at 03:30 GMT, JOLTS at 15:00 GMT and the US midterm elections
Updated Tue 3 Nov 2026 · 02:54 GMT · Gold price as of the Asian morning 3 Nov 2026 (around 02:30 GMT)
vs the Monday 2 Nov close · On Monday, spot gold gained $71.40 (+1.84%) to around $3,945.80, recovering from a 1-year low (Kitco) · TradingView showed XAUUSD near $3,944 over the same period
Key takeaways for gold today
- 1Gold is holding around $3,952 (+0.14%) this morning after spot gold gained $71.40, or 1.84%, to around $3,945.80 on Monday according to Kitco, though it is still down about 4.5% over the month
- 2WTI crude fell 7.4% to close at $96.46 after Iran signalled it is ready to negotiate with the US, easing inflation worries; the US 10-year yield eased to around 4.9%
- 3Futures markets still price about a 75% chance of a December Fed hike after a strong ISM manufacturing reading of 55.5, which is capping gold’s upside
- 4Resistance at $3,978 and $4,035; support at $3,817 and $3,719 (Kitco) · Today, watch the RBA at 03:30 GMT, JOLTS at 15:00 GMT and US midterm election results, which start coming in late Tuesday into Wednesday
3 factors driving gold
- OILOil plunges 7%, easing inflation worries
On Monday, December WTI closed at $96.46, down 7.4%, and Brent closed at $104.77, down 7.6% (Rigzone), after Iranian state media reported that the Supreme Leader had approved government talks with the US. Kitco said cheaper oil eased inflation concerns, helping gold recover from its heavy October losses. See the timeline in yesterday’s breaking oil news
- 10YUS yields ease to around 4.9%
The US 10-year Treasury yield eased to around 4.9% (Kitco), trading in a 4.86–4.93% range according to Krungthai Bank, slightly lowering the cost of holding non-yielding gold. The dollar index (DXY) was steady near 101.8 (Trading Economics)
- FEDStrong ISM keeps December Fed hike bets alive
The US ISM manufacturing PMI for October came in at 55.5, above forecast. Futures markets still price about a 75% chance of a December Fed hike from the current 3.75–4.00% range (Kitco), the main pressure limiting gold’s recovery. Trading Economics added that selling in tech and AI stocks is still weighing on precious metals
Key support and resistance levels
| $4,086 | R3 | Next target if gold clears $4,035 decisively |
| $4,035 | R2 | Second resistance level from the analysis |
| $3,978 | R1 | First resistance, close to the current price |
| $3,952 | NOW | Latest price (Trading Economics, around 02:30 GMT) |
| $3,817 | S1 | First support; a break opens the way for deeper losses |
| $3,719 | S2 | Second support level from the analysis |
Bull case / bear case
Breaks above $3,978
The next level is $4,035, and if gold holds above it, Kitco sees the next target near $4,086. Progress in US–Iran talks that keeps oil falling, a weak JOLTS reading and lower yields could help
Breaks below $3,817
Selling could test $3,719, according to Kitco’s analysis. Pressure could come from stalled talks that send oil higher, strong jobs data that lift Fed hike bets, or a dollar spike around the midterm election results
Levels as of 2 Nov 2026, based on analysis from Kitco. Not a trading recommendation
Today’s events that could move gold
- RBA decision + Statement on Monetary PolicyMarkets expect a hike to 4.85% from 4.60%, affecting the Aussie dollar and the broader dollarHIGH
- US JOLTS job openings (Sep)Forecast around 7.1 million vs 7.08 million; a strong reading could lift the dollar and yields, pressuring goldHIGH
- US factory orders (Sep)Forecast 1.2% m/m vs 0.1%LOW
- US midterm electionsResults start coming in late Tuesday into Wednesday GMT; the dollar and gold could be very volatileHIGH
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Sources (8)
- Trading Economics – Gold (3 Nov, Asian morning)
- TradingView – XAUUSD (3 Nov)
- Kitco – Gold, silver recover October rout as oil drops (2 Nov)
- Rigzone – Oil settlement prices (2 Nov)
- Siam Business News – Krungthai Bank morning note 3 Nov (ISM, yields)
- RBA – Reserve Bank of Australia
- BLS – JOLTS
- Investing.com – JOLTS Job Openings
Risk warning: Trading gold, forex and CFDs carries a high level of risk and you may lose all of your capital. This article is a summary for educational purposes only and is not investment advice. Prices may have changed by the time you read it.
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