Gold price today: The precious metal, Gold futures, at the New York Commodity Exchange (Comex) on Thursday, 6 November 2025, as the weakening job market data raised the potential for a future US Federal Reserve rate cut in the US economy.
According to the data collected from the Comex website, the gold futures in New York were trading 0.19% or $7.60 per ounce higher at $4,000 per ounce level as of 9:29 a.m. (EDT), compared to the previous commodity market close at $3,992.90 per ounce.
The data also showed that during the morning trading hours, the precious yellow metal futures for the December 2025 contract jumped to $4,028.70 per ounce on Thursday.
A buying pattern in gold potentially indicates that the investors are buying safe-haven assets amid an uncertain environment due to several domestic and geopolitical parameters.
Experts suggest that even though the overall momentum indicators for gold remain bullish, the precious yellow metal can witness a potential pullback in the short term.
Technical Outlook on Gold
On the technical front, Nirpendra Yadav, Sr. Commodity Research Analyst at Bonanza, said that there is a strong uptrend with the monthly and weekly timeframes in the commodity.
Yadav highlighted that the global gold prices will have a key support level of $3,700 per ounce, with a resistance zone at $4,380 per ounce as the commodity is in ‘slightly overbought’ territory.
“Gold in the COMEX division is in a strong uptrend across the monthly and weekly timeframes. Price is trading above key moving averages (50-day and 200-day) and higher highs, higher lows are intact. However, momentum indicators remain bullish but slightly overbought, indicating possibility of short-term pullbacks. Gold has support at $3,700 and resistance at $4,380,” said the commodity market expert.
(This is a developing story. Please check back for updates)
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
