After reviewing the movements of the gold futures on different time chart patterns, I anticipate that both the gold and digital gold are under the grip of Bears, thrashing the bulls at every upward move despite grim geopolitical tussles between Russia and Ukraine, which are more or less influenced by the changing Trump’s diplomatic stances on trade tariffs since mid-October 2025.
The gold futures started a fresh slide on November 13, 2025, after testing a peak at $4250, from where the futures have pulled down approximately 5.92% within three trading sessions. Despite a reversal yesterday after testing a low at $4002, gold futures started Tuesday with a gap-down (an opening price lower than the previous day’s close), currently trading at $4008.50, a level just below a pivotal point (a key price level used for market analysis) at $4021.52.
On Monday, Goldman Sachs said that the central banks likely bought large amounts of gold in November in a multi-year trend to diversify reserves to hedge geopolitical and financial risks. Goldman reiterated in a note that gold prices will reach $4,900 by the end of 2026, with further gains likely if private investors continue to diversify their portfolios.
But, I anticipate that this note missed the levels for the gold at the end of this year as the currently prevailing bearish pressure on gold and digital gold defines a scarier scenario if such a quantum of slide continues in both the assets this month.
Let’s analyze the technical formations on the Daily chart of the gold futures and the Bitcoin (BTC/USD) to understand the support and resistance levels.
In a daily chart, gold futures are trying to hold a key support at $4021.52 with bearish tone as a sustainable move below this could push the futures to test the next significant support at the 50 EMA ($3951.75), and a sustainable move below this could accelerate the selling spree to push the futures to test the next significant support at the 100 EMA ($3761.84) as the gold futures are sensitive to propelling easing on trade tariffs by the US President Donald Trump and the decline bets on expected rate cuts by the Federal Reserve in its December 9-10 meeting.
In a daily chart, Bitcoin are trading at $89,405 after falling 6.16% on Tuesday, and is expected to continue this slide this week as trading below the significant support at the 200 EMA ($107770), after the formation of a supper bearish crossover as the 9 EMA, 20 EMA, 50 EMA have come below the 200 EMA while 100 EMA is about to join them shortly.
I anticipate that Bitcoin (BTC/USD) seems to have turned into a mentor for the yellow metal since October 20, 2025, as similar moves can be seen on the daily chart of the gold futures.
Finally, I conclude that the gold futures look ready to repeat the October 20, 2025, fall of approximately 6.5% in a single day once again this week due to a sudden sell-off by the Hedge Fund or a central bank to create some buying space if the central banks are really buying gold in November 2025, as Goldman Sachs reports.
I anticipate that the gold futures could even hit the 200 EMA ($3465.85) before the end of this year, as a selling spree could turn steeper if easing efforts on trade tariffs accelerate this month by the U.S. administration.
Disclaimer: Readers are expected to take any position in gold and Bitcoin at their own risk, as this analysis is based only on observations.
