Gold Holds Steady After Early Week Dip
Spot gold started the week near $3,979 on Monday, dipped to roughly $3,931 on Tuesday, then recovered to close around $3,999 on Friday and about $4,063 on Sunday. That puts the week roughly +2% from Tuesday’s low and modestly higher versus Monday’s close as safe-haven bids re-emerged into the weekend.
Sentiment and Macro Backdrop
Commentary during the week framed the early slide as a continuation of late-October de-frothing, with buyers defending the mid-$3,900s and eyeing central-bank demand as a backstop. By November 6, some outlets highlighted that even after an approximately 11% pullback from October’s peak, strategists still see medium-term upside scenarios.
Technical Outlook
Support sits at $3,930, then $3,900. Immediate resistance is $4,06,5 then $4,085. A daily close below $3,930 would risk a deeper retrace, while sustained trade above $4,065 would put $4,100–$4,150 back in view. Levels are derived from this week’s closes and intraday ranges.
US Dollar Index Loses Momentum After Strong October Finish
The US Dollar Index closed around 99.87 on Monday, slipped to roughly 99.60 on Friday, then was near 99.74 on Sunday. Overall, DXY held a 99.6–100.2 corridor for most of the week. On Friday the dollar firmed in Asia after softer China trade data, even as US data flow was muddied by a government shutdown delaying some official releases.
Macro Drivers
Markets weighed rising odds of a December Fed rate cut against risk-off pockets in global data. Fed commentary urged caution, keeping the dollar supported on dips but capped below 100.3.
Technical Analysis
Support: 99.40 then 99.20. Resistance: 100.00 then 100.35. A daily close above 100.35 would signal renewed upside momentum.
Bitcoin Seeks Direction After Volatile Start to November
Bitcoin fell from a Monday close near $106,578 to a Tuesday close around $101,504. On Wednesday the market briefly traded sub-$100,000 intraday before rebounding, and by Friday closed near $103,325. Into Sunday, BTC firmed to about $104,722. Week on week that is modestly lower versus Monday but off the midweek lows.
Market Behavior and Positioning
The midweek dip was linked to stronger dollar tone and risk-off in tech, which pressured crypto broadly. Liquidations eased into the weekend as spot demand reappeared around the psychological $100,000 level.
Technical Setup
Support: $100,000 then $99,000. Resistance: $106,500 then $107,300. A daily close back above $106,500 would improve near-term momentum, while a break below $99,000 would expose $97,000–$95,000. Levels use this week’s highs and lows.
Ethereum Steadies Near Mid-Range Support
ETH closed Monday near $3,604 after a sharp drop, fell further to roughly $3,289 on Tuesday, then recovered through Friday around $3,436 and Sunday near $3,584. The pattern was a V-shape from the $3,06x–$3,20x intraday zone back toward the mid-$3,500s.
Flows and Market Tone
Volatility spiked early in the week on macro nerves, then cooled as dip buyers defended the low-$3,300s. Several desks noted improving tone into the weekend as ETH outpaced BTC on the rebound days.
Technical Outlook
Support: $3,320 then $3,250. Resistance: $3,600 then $3,650–$3,700. A close above $3,650 would open $3,800. A loss of $3,250 would warn of a retest toward $3,100–$3,060.
Weekly Market Wrap-Up
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It was a two-step week across risk assets. Gold faded early then reclaimed $4,000 into Sunday. The dollar oscillated around 100 with macro mixed. Bitcoin undercut $100,000 midweek but ended above $104,000. Ethereum traced a sharper round-trip but finished the week near $3,580. Heading into the new week, watch whether DXY can hold below 100.20, if gold can sustain above $4,060, and whether BTC and ETH can turn these weekend stabilizations into higher lows.
