Gold Targets $4,000 as Tech Correlation & Bond Yields Press Pressure | Trade of the Week
Will Gold continue to decline this week? Here’s our trade of the week
Gold has tested dynamic resistance following last week's range-bound price action and moved lower for a second consecutive session, signaling a potential new downswing.
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Recently, gold has behaved less like a traditional safe-haven asset, trading more in tandem with broader market risk appetite and tech equities tied to the ongoing AI narrative. With US Treasury yields hovering at elevated levels ahead of the Treasury's November Quarterly Refunding announcement, precious metals remain under fundamental pressure. This technical breakdown off resistance brings us to our trade of the week: selling Gold with a target area of $4,000.
The primary narrative driving this trade is gold's high positive correlation with tech risk assets alongside lingering pressure from US bond yields.
Near-term price action is expected to remain contained as investors temporarily move to the sidelines ahead of key risk events. With a light economic calendar this week, market participants are positioning themselves ahead of next week's crucial Federal Reserve interest rate decision.
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Read EXNESS Broker Review October 21, 2026 at 07:55PM Exness
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