Gold Surges on Large Move as Bearish Bias Persists
TUE 3 NOV · 13:33 ICT · XAUUSD 3,918.7
IN 20 SECONDS
The bias is down and the pivot level of 3,936.5 decides whether the downward pressure continues.
The key zone today centers around the pivot at 3,936.5 and yesterday's high of 3,970.5.
No scheduled news events are listed for today.
What gold did yesterday
Gold surged with a large move yesterday, opening at 3,898.4 and reaching a high of 3,970.5 before dropping to a low of 3,891 and closing at 3,948 for a change of +$49.5.
Levels that matter today
| Level | Price | Why it matters |
|---|---|---|
| R2 | 4,126.4 | 10-day high |
| R1 | 3,970.5 | Yesterday’s high |
| Pivot | 3,936.5 | Yesterday’s pivot (H + L + C) / 3 |
| S1 | 3,891.0 | Yesterday’s low |
| S2 | 3,870.0 | 10-day low |
Trend (close vs a rising or falling EMA50): D1 down · H4 down · H1 down.
News to watch (Bangkok time)
No high-impact releases are scheduled for the rest of today.
Two scenarios
IF THE PIVOT HOLDS
If the price holds below the pivot area, traders watch for a continuation of the broader downward trend on the daily, four-hour, and one-hour charts.
IF IT BREAKS
If the price breaks above the pivot area and yesterday's high, the bearish momentum could face challenges as it approaches resistance at 4,126.4.
Gold Brief is written with AI from official calendars and XAUUSD price data, with every price computed by code and checked against fixed rules. It is market commentary for education, not financial advice or a trade signal. Market data by biquote. Risk Disclosure