Gold & Silver Weekly & Monthly Update: October was brutal for gold, the worst monthly performance since 2008. We closed the week and month at $3,875, marking a new low for 2026. Daily RSI is oversold yet overall momentum remains bearish.
A short-term recovery next week toward $4,000 to test it as resistance looks highly likely. Beyond that the next major downside target sits around $3,750. From there, another bounce toward the $3,850–$3,900 zone is likely. By then, broader market and macro developments should give a clearer picture of how gold behaves into December and early 2027 and whether the $3,750 area marks a bottom or if lower levels around $3,400–$3,600 come into play.
My plan as outlined earlier:
• Long opportunity from 3870-3880$ targeting $3,980–$4,010
• Then a short setup from the $4,000 area targeting $3,750–$3,800
Silver acted differently, refusing to follow gold during its latest drop and managing to hold the $49. Down nearly 60% from its ATH, a relief bounce toward $55–60 range is highly likely followed by another leg down toward the major support level at $45.
This is not financial advice. My analysis is for educational purposes only. Trade carefully and good luck!
$PAXG $XAG
A short-term recovery next week toward $4,000 to test it as resistance looks highly likely. Beyond that the next major downside target sits around $3,750. From there, another bounce toward the $3,850–$3,900 zone is likely. By then, broader market and macro developments should give a clearer picture of how gold behaves into December and early 2027 and whether the $3,750 area marks a bottom or if lower levels around $3,400–$3,600 come into play.
My plan as outlined earlier:
• Long opportunity from 3870-3880$ targeting $3,980–$4,010
• Then a short setup from the $4,000 area targeting $3,750–$3,800
Silver acted differently, refusing to follow gold during its latest drop and managing to hold the $49. Down nearly 60% from its ATH, a relief bounce toward $55–60 range is highly likely followed by another leg down toward the major support level at $45.
This is not financial advice. My analysis is for educational purposes only. Trade carefully and good luck!
$PAXG $XAG
