Spot gold (XAUUSD) rebounded to around $4,124 on Monday morning, up about 1.3%, after coming under pressure on Friday from a stronger-than-expected NFP jobs report. Lower oil prices are easing inflation pressure, but markets still see about an 81% chance of a Fed rate hike before year-end. Key resistance is at $4,180–4,200, and this week’s highlight is US CPI on Tuesday.
Updated Mon 9 Nov 2026 · 02:28 GMT · Spot gold price as of the Asian morning, 9 Nov 2026 (around 02:02 GMT)
vs the previous close (Trading Economics: $4,123.71, up 1.31%) · On Friday 6 Nov gold eased after NFP but still gained more than 4% for the week
Key points for gold today
- 1Spot gold rebounded to around $4,124 (+1.31% from the previous day, per Trading Economics), back above $4,100 after dipping to around $4,045–4,070 on Friday
- 2October NFP rose 165K, well above the 65K forecast. Markets now see the odds of a 0.25% Fed hike before year-end at about 81%, up from 71% before the release, which still caps gold’s upside
- 3MTS Gold sees key resistance at $4,180–4,200, with short-term support at $4,030–4,000 and then $3,950
- 4Today, watch Fed speakers Bowman (13:40 GMT) and Goolsbee (15:00 GMT); the week’s highlight is US CPI on Tuesday at 13:30 GMT
3 factors driving gold
- OilOil slides, easing inflation pressure; gold rebounds above $4,100
Trading Economics says gold climbed back above $4,100 on Monday as lower oil prices eased inflation worries. WTI crude closed Friday near $90.34 and fell about 13% over the week on hopes for US–Iran talks. Read the big picture in today’s forex news
- NFPStrong jobs data lifts bets on a Fed hike
October nonfarm payrolls rose 165K, above the 65K forecast, and the unemployment rate fell to 4.1%. Markets now price about an 81% chance of a 0.25% Fed hike before year-end, up from 71% before the release (Trading Economics). That expectation remains a ceiling for gold.
- 10YYields stay high; Tuesday’s CPI is the next test
The US 10-year Treasury yield is around 4.88%, while the dollar index (DXY) is slightly weaker, down about 0.14% near 102.16 this morning (Trading Economics). Hebe Chen, an analyst at Vantage Global Prime, says Tuesday’s US CPI will test whether gold buying can overcome pressure from the dollar (Krungthep Turakij).
Support and resistance levels to watch
| $4,200 | R2 | Top of the key $4,180–4,200 resistance zone; MTS Gold says a break above would change the sideways-down picture |
| $4,180 | R1 | Bottom of the key resistance zone |
| $4,124 | NOW | Latest price (Gold Spot around 02:02 GMT) |
| $4,030 | S1 | Top of the short-term $4,030–4,000 support zone |
| $4,000 | S2 | Psychological level and bottom of short-term support |
| $3,950 | S3 | Bottom of the $4,000–3,950 support range |
Levels as of 9 Nov 2026, based on MTS Gold’s weekly analysis (via Thansettakij). Not trading advice.
If gold rises / if it falls
Holds above $4,100 and breaks $4,180–4,200
MTS Gold says a break above the $4,180–4,200 zone would end the sideways-down trend. A softer-than-expected CPI and further declines in oil could help.
Breaks below $4,030
Selling could test $4,000 and the lower bound at $3,950. Risks include Fed officials signalling readiness to hike, or a hotter-than-expected CPI that lifts the dollar and yields.
Levels as of 9 Nov 2026, based on MTS Gold’s analysis. Not trading advice.
Today’s releases that move gold (GMT)
- Michelle Bowman (Fed Vice Chair for Supervision) speaksMarkets will look for her view on a December hike after strong NFPMED
- Austan Goolsbee (Chicago Fed) speaksA hawkish signal could support the dollar and yields, weighing on goldMED
- NY Fed consumer inflation expectations (Oct)Watch 1-year-ahead inflation expectationsLOW
- US CPI (Oct) · 10 NovForecast +0.3% m/m, slowing from 0.6%. A hotter print could push gold down to test supportTue 10 Nov 13:30 GMTHIGH
Gold rebounds above $4,100 before CPI. Get cash back on every lot
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Sources (7)
- Trading Economics – Gold (9 Nov)
- Trading Economics – Silver (9 Nov)
- Trading Economics – US 10Y Yield (9 Nov)
- Trading Economics – Dollar index DXY (9 Nov)
- Krungthep Turakij – Gold dips on Fed hike worries (9 Nov)
- Thansettakij – MTS Gold outlook for 9–13 Nov
- 1TRADER – Forex News 9 Nov (NFP / calendar / oil)
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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