Gold Update — Nov. 2026
Those who have been following my previous updates on gold since 2025 will know that I’ve also shared my view that we were likely moving gradually into a topping zone, with 3k640–3k680 potentially being the target ahead. When gold last dropped sharply to $4k, I reaffirmed my previous view.
Gold has now fallen below $4K and is preparing to test the very strong support zone around $3k8. But prices could fall further if the broader situation remains unchanged.
🔶 That’s why it’s important at this point to understand correctly and fully why gold is falling and how much further it could fall:
1. The AI bubble has deflated. The process of de-risking from AI tech stocks has spread, with the heat reaching from China to the US. In a short time, the STAR50 index, which includes China’s leading AI companies, has been cut in half, falling by 50%; a string of top US companies involved in AI infrastructure and development have also suffered record-shattering drops, from Intel, NVIDIA, AMD, and SNDK to Alphabet, etc.
Many of you will immediately argue: what on earth do falling tech stocks have to do with the price of gold? That’s a big mistake:
When hundreds of billions of dollars are sold off across major markets in a short period, investment funds’ demand for liquidity reaches a peak. This forces them to sell whatever they can, immediately, to cover losses and margin calls. Meanwhile, gold is a highly liquid asset, and it has also generated very strong gains during the recent rally.
$BTC $NEAR
Those who have been following my previous updates on gold since 2025 will know that I’ve also shared my view that we were likely moving gradually into a topping zone, with 3k640–3k680 potentially being the target ahead. When gold last dropped sharply to $4k, I reaffirmed my previous view.
Gold has now fallen below $4K and is preparing to test the very strong support zone around $3k8. But prices could fall further if the broader situation remains unchanged.
🔶 That’s why it’s important at this point to understand correctly and fully why gold is falling and how much further it could fall:
1. The AI bubble has deflated. The process of de-risking from AI tech stocks has spread, with the heat reaching from China to the US. In a short time, the STAR50 index, which includes China’s leading AI companies, has been cut in half, falling by 50%; a string of top US companies involved in AI infrastructure and development have also suffered record-shattering drops, from Intel, NVIDIA, AMD, and SNDK to Alphabet, etc.
Many of you will immediately argue: what on earth do falling tech stocks have to do with the price of gold? That’s a big mistake:
When hundreds of billions of dollars are sold off across major markets in a short period, investment funds’ demand for liquidity reaches a peak. This forces them to sell whatever they can, immediately, to cover losses and margin calls. Meanwhile, gold is a highly liquid asset, and it has also generated very strong gains during the recent rally.
$BTC $NEAR
