Gold struggles below $4,000 as inflation worries and rate‑hike expectations weigh on the market ahead of the US midterms.

Spot gold (XAU/USD) stayed under pressure on Tuesday, hovering around $3,904 as investors brace for the US midterm elections. A rebound in oil prices after a brief dip, renewed Middle‑East tensions and strong US factory data have kept inflation fears alive, reinforcing expectations of a December rate hike by the Federal Reserve. Analysts say the metal needs to close the week above $4,000 to revive a bullish case, while a break below $3,900 could open the path toward $3,800.

Key technical levels to watch

• Support: $3,902.8 (S1)
• Pivot: $3,936.6
• Resistance: $3,981.9 (R1)
• Break below $3,880 may trigger a move toward $3,800
• Close above $4,000 could spark a rally to $4,250

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This article is compiled from international market news for information only. It is not investment advice.