YLG says gold is trying to build a base at $4,121-4,105, watch the downtrend line at $4,150

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YLG Bullion International Company Limited issued its daily gold price trend analysis report for October 9, 2026, stating that gold prices are trying to build a base around $4,121-4,105, with attention needed on the downtrend line around $4,150 and the previous high around $4,184. If the rebound fails to break through $4,150-4,184, the correction is still seen as possibly unfinished, but if it clears $4,184, the trend would turn positive again. Strategically, YLG recommends risking a long position if the price pulls back without breaking below $4,121-4,105, with a stop loss on the long position if the price falls below $4,105, and taking profit if the price fails to break through $4,150-4,184. As for key factors, yesterday gold closed up $21.70 after US bond yields declined and the dollar weakened, along with oil prices paring gains after President Trump said the United States would not launch an attack on Iran before the US midterm elections in November, noting that the two countries are engaged in constructive progress talks, or Productive Talks, to end a war that has lasted six months. However, Fed Governor Christopher Waller said more rate hikes are still needed, but the pace of increases can be flexible and a pause in October is possible, reflecting that the Fed has not yet finished its tightening cycle.

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％Effective Federal Funds Rate
EFFR
± MixedMonetaryrelevance

Waller says more rate hikes may be needed but a pause in October is possible, leaving the near-term policy path unclear.

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⛏Gold Futures
GOLD
▲ PositiveMonetaryrelevance

Gold closed up $21.70 as US bond yields declined and the dollar weakened, with YLG flagging a possible base and long setup above $4,105.