Gold: Daily Read | 2026-10-22

Price on Gold (XAU/USD) sits near $4,103, 1.3% lower on the session and down near the floor of its one-month range. The one-month average sits near $4,227, and price is below it, so that line is the pivot the two-way traffic keeps returning to. Momentum has cooled over the last two weeks, roughly 1.5% down, leaving the structure as a downtrend, price under both its one-month and longer averages. The levels that matter are $4,489 overhead, the past month’s swing high, about 9.4% above here, with $4,091 below as the shelf that has held, roughly 0.3% down; the $4,200 and $4,100 round numbers are the nearer handles. Zoom out and the last three months have ranged between $3,993 and $4,760, which frames the bigger picture. For now the tilt is bearish: a close above $4,489 would open room toward $4,760, while losing $4,091 would put $3,993 back in view.

Key levels: support $4,091 (0.3% below), resistance $4,489 (9.4% above), one-month average $4,227, three-month range $3,993 to $4,760.