Gold heads towards the best annual performance in four decades | Comprehensive analysis of gold price forecasts November 13

Technical Price Movement and Expected Support

Gold is currently retreating to a minor correction zone after a four-day rally, with the price now trading at $4,209 per ounce after touching $4,219. This pullback does not indicate a weakness in the overall trend but is a natural profit-taking phase before attempting a new value move to break higher levels.

On the chart, the RSI indicator shows a reading of 73 points, in an oversold territory, signaling a potential short-term correction. However, as long as the price remains above the support at $4,046, the bullish trend remains technically sound.

Key Support Levels:

• $4,046: Major support turned from previous resistance
• $3,980 – $3,928: Vital support zone that formed the launch point of the recent wave
• $3,850: Secondary support in case of an extended correction

Expected Resistance Levels:

• $4,220: Sub-resistance near current prices
• $4,300: Important psychological and technical barrier
• $4,380: Short-term high and critical test for the bullish trend

Economic Context Behind Gold’s Strength

The positive momentum in gold stems from a complex set of factors. First, the end of the longest US government shutdown in history (which began in early October) created cautious optimism, but ongoing concerns about the impact of political deadlock on economic growth kept market sentiment cautious.

Second, the six-week hiatus in releasing vital inflation and employment data left a significant informational void. This uncertainty boosted demand for safe-haven assets, primarily gold, as investors prefer hedging against potential economic surprises.

Third, expectations of a Federal Reserve rate cut have increased. According to a Reuters poll, about 80% of experts anticipate a 25 basis point cut at the December meeting, reducing the appeal of interest-bearing assets and boosting gold as an alternative investment.

Fourth, the continued weakness of the dollar against major currencies, since gold is priced in dollars, automatically raises prices.

Central Banks and Deeper Shifts in the Financial System

Gold demand is not limited to individual traders or financial institutions. Massive central banks, especially China, India, and Turkey, continue to bolster their gold reserves. This official buying reflects a deeper strategic shift: countries seeking to reduce reliance on the dollar and US assets amid increasing geopolitical risks.

This ongoing, non-speculative demand provides a solid support base for the market and gives the bullish trend long-term momentum independent of short-term sentiment fluctuations. In other words, even if a correction occurs, central bank buying will provide price protection.

Overall Performance of Precious Metals

The positive movement is not limited to gold alone. Silver rose by 1.4% to trade at $54.15 per ounce, approaching its all-time highs after hitting a peak on October 17. This reflects growing interest in silver as a safe haven, in addition to industrial demand from energy and modern technology sectors.

Palladium gained about 0.8% to $1,486, supported by expectations of a demand rebound from the automotive industry. Platinum remained more stable, moving near $1,620 with slight gains this week.

This collective rise indicates a shift in investor strategies: interest is no longer confined to gold alone, but portfolios are diversifying horizontally across different precious metals.

Long-Term Outlook and Gold Price Forecasts

Gold has so far gained nearly 60% since the start of 2025, positioning itself for the best annual performance since 1979, nearly four decades ago. This achievement is not accidental but results from multiple converging factors: declining global growth expectations, eroding confidence in fiat currencies, rising geopolitical risks, and a clear shift toward easing policies by central banks.

Based on these trends, many leading analysts are talking about ambitious gold price targets reaching $5,000 per ounce by 2026, provided the dollar remains weak and institutional demand from central banks continues.

Despite short-term correction possibilities, the long-term overall trend remains supportive. Gold has become a preferred tool for wealth preservation in an increasingly volatile and uncertain global environment.

Summary and Critical Watchpoints

Gold is in a delicate balance between multiple positive factors and short-term corrective pressures. Wise investors should closely monitor:

• Break below $4,046: indicating potential weakening of the bullish momentum
• Break above $4,380: confirming a strong continuation of the upward trend
• Inflation and employment data releases: which will jointly determine the Fed’s path and gold’s trajectory

The outlook favors continued long-term support for gold, but caution regarding short-term corrections is essential. Gold price forecasts suggest current levels present an attractive opportunity for investors seeking to hedge against increasing economic uncertainty.