In today’s trading session, gold prices are fluctuating around the $4,000 level. A combination of technical and fundamental data indicates that the market is currently at a critical and highly volatile point, where traders are divided between expecting a continuation of the bullish trend or the start of a new corrective phase. In this analysis, the Trendo broker’s educational team examines both the technical and fundamental aspects of the gold market to provide a clearer outlook on its current condition and possible future trends.
You can also visit the Trendo platform and utilize its advanced trading tools and features to conduct your own analyses with greater accuracy and confidence.
Technical Analysis of Gold (October 28, 2025)
On the daily chart, the $3,968 level acts as a key support, aligning with the 38.2% Fibonacci retracement of the recent bullish wave. Holding this area could signal strong buying interest and an attempt to push prices higher. The RSI indicator is currently in the mid-range; if it stabilizes above the 50 level, the likelihood of further growth toward the 21-day moving average ($4,061) increases.
In a bullish scenario, the next resistance zones are located between $4,100 and $4,150. Conversely, a break below the $3,973 support level and a daily close under it could trigger a new bearish wave, targeting $3,847 and the 50-day moving average ($3,784).
Key Gold Levels:
- Supports: $3,968 and $3,786
- Resistances: $4,059 and $4,152
Gold Technical Outlook – Trendo Platform (Daily Timeframe)
Overall, the dominant signal on the daily timeframe remains bullish, yet due to increased volatility and heightened market risk, caution is advised when entering new positions.
Fundamental Analysis of Gold (October 28, 2025)
Despite pressure from a relatively stronger U.S. dollar, gold continues to find support from key fundamental factors such as expectations of a potential Federal Reserve rate cut and rising geopolitical tensions—including escalating conflicts in the Middle East and concerns over U.S. government debt. Nevertheless, the overall market sentiment remains cautious, with investors maintaining a preference for safe-haven assets. From an economic calendar perspective, traders’ attention is focused on the upcoming Federal Reserve meeting.
Overall, despite short-term volatility, gold retains a strong fundamental position as a store of value, though market instability is expected to persist through the end of the week.
Possible Gold Scenarios (October 28, 2025)
As long as gold prices hold above the $3,973 support level, the prevailing market bias remains bullish, with upside targets at $4,061, $4,100, and $4,150. Short-term traders may look for buying opportunities near support areas and manage their positions around resistance zones. However, a decisive break below $3,973 could accelerate the downward movement toward $3,786 or even lower.
Final Thoughts
Given the current market conditions, gold stands at a critical juncture between strong supports and major resistance levels. The combination of technical and fundamental factors suggests that while the medium-term outlook remains bullish, increased volatility along with global political and economic risks may ultimately determine the direction of the next major move. For more precise market analysis and low-spread, low-commission trading, you can use the Trendo platform, where advanced technical and fundamental tools offer a more professional trading experience.
Please note that this analysis is provided solely for educational and informational purposes and should not be considered financial advice or a buy/sell recommendation.
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