Gold (XAUUSD) rises for the fourth consecutive month: the outlook is excellent

Gold (XAUUSD) prices climbed to 4,190 USD, with expectations of a Federal Reserve rate cut supporting the market. Discover more in our analysis for 28 November 2025.

XAUUSD forecast: key trading points

• Market focus: gold (XAUUSD) is closing higher for the fourth consecutive month
• Current trend: US policymakers are leaning towards Fed monetary easing
• XAUUSD forecast for 28 November 2025: 4,136 or 4,200

Fundamental analysis

Gold (XAUUSD) prices climbed to 4,190 USD per ounce, nearly a five-week high. The metal is set to close higher for the fourth consecutive month. Investor confidence has strengthened on expectations that the Federal Reserve will cut interest rates in December. A series of dovish comments from Fed officials and weaker-than-expected economic data, published with delays, have reinforced forecasts of further policy easing.

Additional support came from reports that Kevin Hassett, considered the leading candidate to replace Jerome Powell as Fed chair, also advocates rate cuts in line with President Donald Trump’s preference for looser monetary conditions.

The market is now pricing in over 80% probability of a December rate cut, up from around 30% a week earlier. Traders also expect three more rate reductions by the end of 2026.

Gold remains one of the strongest performing assets of the year and is on track for its best annual performance since 1979, driven by active buying by central banks and continued inflows into gold ETFs.

The gold (XAUUSD) forecast is positive.

XAUUSD technical analysis

On the H4 chart, gold (XAUUSD) is in an upward phase following a rebound from the 4,136–4,150 support zone. The instrument is gradually approaching the key resistance area at 4,190–4,200. The recent candlesticks are consistently green, reflecting sustained buying momentum. Prices are holding in the upper half of Bollinger Bands, with the upper band pointing upwards, confirming a recovery.

The nearest support level is 4,136, from which the instrument has bounced off several times this week. The next major support is at 3,997, although it remains distant and relevant only if a deep correction develops.

Resistance lies in the 4,190–4,200 zone, followed by a stronger level at 4,246, from which gold sharply retraced on 14 November. A breakout above 4,200 would open the path towards 4,246.

Summary

Gold (XAUUSD) is recovering after the decline seen between 14–18 November. The gold (XAUUSD) forecast for 28 November 2025 suggests continued movement within the 4,136–4,200 channel, where the upper boundary remains the main barrier for buyers.

Open Account