Analyst: Gold falls back to the $4,100 to $4,200 range, $4,000 remains an important price level

智通财经2026/10/07 10:41

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Phillip Nova analyst Priyanka Sachdeva stated in a report that despite the recent correction in gold prices, the structural drivers supporting gold have not disappeared. This week, spot gold has retreated to the $4,100–4,200 per ounce range. Sachdeva noted that although gold prices have adjusted recently, geopolitical uncertainty and continued vulnerability in Middle Eastern oil supplies are maintaining investor interest in gold. She believes that $4,000 per ounce remains a key level. If the long-term structural logic for gold remains intact, any further move of gold prices towards this level may attract conviction-driven investors to adopt a phased buying approach. She added that the future trend of gold will depend more on how geopolitical risks affect oil prices, inflation expectations, and U.S. Treasury yields.

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Phillip Nova analyst Priyanka Sachdeva stated in a report that despite the recent adjustment in gold prices, the structural factors driving gold have not disappeared. This week, spot gold has already fallen back to the $4,100–$4,200 per ounce range. Sachdeva noted that although gold prices have recently corrected, geopolitical uncertainty and the continued fragility of Middle Eastern oil supply maintain investor interest in gold. She believes that $4,000 per ounce remains an important price level. If the long-term structural logic for gold remains intact and gold prices approach this level further, it may attract investors with strong conviction to adopt a staggered buying approach. She added that the future trend of gold will depend more on how geopolitical risks are transmitted to oil prices, inflation expectations, and U.S. Treasury yields.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The US Dollar Index, which measures the dollar against six major currencies, rose by 0.4% on the day, closing at 102.242 in the late New York forex market. By the close, 1 euro exchanged for 1.1199 US dollars, down from the previous session's 1.1261 US dollars; 1 British pound exchanged for 1.3219 US dollars, down from the previous session's 1.3277 US dollars. 1 US dollar exchanged for 157.96 Japanese yen, down from the previous session's 158.12 yen; 1 US dollar exchanged for 0.8330 Swiss francs, up from 0.8313 Swiss francs; 1 US dollar exchanged for 1.4256 Canadian dollars, up from 1.4209 Canadian dollars; and 1 US dollar exchanged for 9.9992 Swedish krona, up from 9.9861 Swedish krona in the previous session.

智通财经•2026/10/07 20:01

The US Dollar Index rose by 0.4%, closing at 102.242.

New York oil prices closed down 1.3%, Brent crude oil fell 0.38%.

At the close of trading, the November delivery light crude oil futures price on the New York Mercantile Exchange fell by $1.16, settling at $88.28 per barrel, a decrease of 1.3%. The December delivery Brent crude oil futures price in London fell by $0.38, closing at $100.20 per barrel, a decrease of 0.38%.

智通财经•2026/10/07 20:00