Gold Price Forecast: XAU/USD Slips Toward $4,076 as Houthi Strikes Lift Oil and Yields - FXLeaders

AI desk brief

Gold is under pressure near $4,120/oz after failing to hold above $4,200, with the article flagging $4,076 as the key near-term support and $4,031/$3,987 below that. The bearish setup is being driven by a renewed oil spike to a five-month high, which has lifted Treasury yields and kept real-rate pressure on non-yielding metals even as the U.S. dollar eased.

On the macro side, the piece says Brent strength tied to Houthi-related strikes and broader Gulf risk is dominating gold’s tape more than the softer dollar. FedWatch shows an 82% chance of no hike next week and an 89% chance of a December hike; central-bank buying remains supportive, with the WGC cited at 39t net purchases in August and China adding 23t in September, but Indian mutual funds reportedly suspended bulk subscriptions to gold ETFs last week.