Gold tests $4,067 support as Fed rate hike signals weigh on rally

Gold prices, which recently advanced toward the $4,100 level, now face renewed selling pressure as traders focus on critical support points ahead of upcoming U.S. inflation data. This increased volatility comes at a time when investors are monitoring the sustainability of gold’s recovery after a series of retreats throughout 2026. Technical analyst James Stanley identified $4,067 and $4,021 as pivotal support levels that may determine whether gold’s latest rally can extend into December. Spot gold recently fell to $4,047.10 per ounce, retreating by $79.70 or 1.93%, marking its lowest levels since November. The slide reflects persistent headwinds from tougher-than-expected U.S. inflation data and continued hawkish commentary from the Federal Reserve. Although headline inflation eased to 0.4% month-on-month in October from 0.6% in September, it remains above the market’s 0.3% forecast.

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