Weekly Review: XAUUSD, #SP500, #BRENT | 30 October 2026
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XAUUSD: BUY 4011.92, SL 3946.92, TP 4154.92
For gold, the main check of the week will be the Fed's position. The market mostly expects to keep the rate on October 28, while the decline in US yields at the beginning of the week reduces the attractiveness of interest-bearing assets relative to metal. A weaker dollar also facilitates buying gold with other currencies. This combination creates conditions for XAUUSD recovery.
However, the expected pause does not yet mean the end of tightening: expensive energy supports inflationary risks and expectations of a December rate hike. The PCE release will test the sustainability of these concerns. As long as yields do not resume rising, the weekly scenario allows for gold strength; hard signals from the Fed or accelerating inflation could cancel this out.
Trading idea: BUY 4011.92, SL 3946.92, TP 4154.92
#SP500: SELL 7634, SL 7714, TP 7444
Reports from Microsoft, Alphabet, and Amazon will be the main test for US stocks. After recent disappointments, investors are more closely evaluating the return on AI spending. Expected earnings growth supports the market, but high expectations raise the cost of weak forecasts. For #SP500, this maintains the risk of sales even with formal beats in estimates for the past quarter.
Declining US yields and a potential Fed pause ease the cost of money, however, the prospect of another rate hike limits this effect. Expensive energy simultaneously increases corporate costs and consumer expenses. As long as reports do not dispel doubts about future profits, the weekly priority remains index decline. Strong company forecasts could change this scenario.
Trading idea: SELL 7634, SL 7714, TP 7444
#BRENT: SELL 109.58, SL 112.78, TP 103.18
Oil begins the week under the influence of new diplomatic efforts around Iran. Reports of Qatari mediation reduce fears of further supply deterioration and provide grounds to reduce the risk premium for disruptions. This supports the downside scenario for #BRENT, although negotiations have not yet confirmed either a sustainable cessation of conflict or a recovery in oil exports.
Threats to energy infrastructure and shipping remain, so the potential for cheaper prices depends on news regarding transport security. US inventory data will help assess raw material availability, but one cannot assume inventory growth as a fact in advance. With continued diplomatic contacts and no new major disruptions, pressure on oil may persist; escalation could quickly invalidate the sell idea.
Trading idea: SELL 109.58, SL 112.78, TP 103.18