Jinshi Weekly Report: Gold Price Downward Target Points to $3,760–$3,700

Jin10 Data's weekly gold investor report, published November 1, said strong technical selling pressure on Friday pushed gold prices lower even as gold's fundamentals are improving. Based on cyclical supply-demand zones below current price levels, the report set downside targets for gold at $3,760 to $3,700 per ounce. The report's framing—that the selloff is technical rather than fundamental—suggests the pullback may be viewed as a correction within an intact bullish backdrop. Market watchers should monitor whether prices hold above the $3,700 support zone and whether fundamental drivers, such as central bank demand or macro data, reassert themselves in the coming sessions.