Daily note · 2 November 2026
Gold steadies near $3,900 after Friday’s $147 rout, with ISM and payrolls ahead
Gold fell $147 on Friday to close near $3,875, its lowest since July, as an equity sell-off forced liquidation. Asia bounced to $3,918.7 and spot is $3,899 ahead of the US ISM at 15:00 UK, with payrolls on Friday.
XAUUSD
$3,899.08
spot · 08:12 GMT · +0.61%
DXY
101.72
Fri close 101.88
UST 2Y / 10Y
4.56% / 4.94%
CMT · 30 Oct
Catalyst
US ISM mfg
15:00 UK · NFP Fri 13:30
Chart: gold futures GC=F daily candles with 20-day average (Yahoo Finance data, plotted 08:13 GMT, 2 Nov 2026). Futures trade at a premium to spot, so chart levels differ from the spot strip.
BackdropYields fell on Friday, yet gold dropped hardest: liquidation, not rates, did the damage.
Market structureFriday broke $3,900 for the first time since July; Asia has bounced but stalled below $3,920. Working range: $3,860–$3,925.
Educational market commentary for information and knowledge sharing only. Not investment advice. Disclaimer & risk warning.
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