Weekly Special Report: Gold

 

ECONOMIC DATA

• FRIDAY, NOVEMBER 13, AT 14:30 GMT+1: U.S. PRODUCER PRICE INDEX (PPI) (OCTOBER). Following the recent higher than expected CPI inflation report, investors will closely monitor producer prices for further signs of inflation. A lower than expected PPI reading could reduce expectations of more Fed interest rate hikes, weaken the U.S. dollar and support gold prices.

 

 

 

U.S. MIDTERM ELECTIONS:

• BREAKING (NOVEMBER 3): U.S. DEMOCRATS WIN CONTROL OF BOTH CHAMBERS OF CONGRESS. Democrats secured major victories in the U.S. midterm elections, taking control of both the House of Representatives and the Senate and ending Republican control of Congress. This creates a divided government under President Trump, potentially increasing political uncertainty and making it harder to pass new legislation.
• EVENT (FRIDAY, DECEMBER 11): U.S. GOVERNMENT FACES ANOTHER SHUTDOWN DEADLINE. President Trump signed a temporary funding bill in September, keeping the government operational until December 11, 2026. Congress must reach a new funding agreement before then to avoid another shutdown.
• GOLD PRICE PERFORMANCE DURING THE 2025 U.S. GOVERNMENT SHUTDOWN. During the last full U.S. government shutdown, which lasted 43 days (October 1 – November 12, 2025), gold prices rose by $382.04 (+11.0%) in the month before, $340.22 (+8.8%) during the shutdown, and $103.70 (+2.5%) in the month after.

Source: Investing, Reuters

 

Please note that past performance does not guarantee future results

 

 

 

GOLD AND CENTRAL BANKS:

• CHINA EXTENDS GOLD PURCHASES TO TWO YEARS: China purchased gold for the 24th consecutive month in October 2026. The People's Bank of China added 25.8 metric tons (830,000 ounces), its largest monthly increase in approximately three years. China's total gold reserves reached 78.30 million ounces (2,435 tons), with approximately 129 tons purchased in 2026.
• POLAND BECOMES THE WORLD'S LARGEST GOLD PURCHASER IN 2026: Poland purchased approximately 150 tons of gold during the first 10 months of 2026, making it the largest central bank purchaser of the year, ahead of China. Its total gold reserves reached a record 700 tons in October.
• GLOBAL CENTRAL BANK DEMAND REMAINS STRONG: According to the World Gold Council, central banks purchased 321 tons of gold in Q3 2026, up 42% compared with the same period last year, the highest quarterly total since Q4 2024. Total purchases reached 675 tons in the first nine months of 2026, up 6% year over year.

Sources: Reuters, World Gold Council, Yahoo Finance, China Daily

PRICE ACTION AND TECHNICAL ANALYSIS:

• SUPPORT: $4,000 OR BELOW. Gold has tested the area below $4,000 eight times between October 2025 and November 2026, with the latest decline marking the ninth test. On October 30, gold tested a low of $3,869.88, before recovering to $4,146 by November 5, showing that the area below $4,000 remains a relevant support zone. However, the price can also decline.
• FORECAST: Wells Fargo forecasts $4,900; Bank of America forecasts $4,750; Morgan Stanley forecasts $5,050; UBS forecasts $5,000; JPMorgan forecasts $4,500; Deutsche Bank forecasts $4,600; Citigroup forecasts $5,000; Societe General forecasts $5,000.

GRAPH (Daily): October 2025 – November 2026

Please note that past performance does not guarantee future results

 

Gold, November 12, 2026
Current Price:  3,940

 

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 100 units
2.  Calculations for exchange rate used as of 08:44 (GMT) 12/11/2026

 

You can use risk management tools such as Stop-Loss and Take-Profit.